4405 W Layton Ave 13,500 SF Retail Building Milwaukee, WI 53220 $3,200,000 ($237.04/SF) 6.74% Cap Rate

Marcus & Millichap is pleased to exclusively present for sale this net-leased Walgreens located at 4405 West Layton Avenue in Greenfield, Wisconsin, a thriving suburban community, strategically situated within the Milwaukee Metropolitan Area (population 1.57 million). Walgreens has been operating at this location since 1995, underscoring its long-term commitment to the market. The property features a 13,500-square-foot free standing building on a 1.46-acre parcel, prominently positioned at the hard signalized intersection of West Layton Avenue and Loomis Road, offering excellent frontage, visibility, and access in a heavily trafficked corridor.
The subject property is surrounded by a strong mix of established and growing residential communities, including numerous apartment complexes such as Ravinia Apartments, Greenbrook Apartments, Timber Ridge Apartments, and Statesman Apartments. Several new residential developments are also underway nearby, including Pleasant View Reserve by Veridian (53 new homesites), Ryan Meadows by Stepping Stone (37 new homesites), and Lakeshore Commons (86 single-family homes, 29 townhomes, and 199 apartments). The immediate trade area benefits from a robust consumer base, with average household incomes exceeding $91,793 within a one-mile radius.
In addition to its strong residential foundation, the property is adjacent to a medical clinic and is within close proximity to a nursing home and numerous assisted living facilities, further enhancing daily traffic and prescription demand. The site is also near higher education institutions, including Alverno College, Milwaukee Area Technical College (12,618 students), and Marquette University (11,550 students), providing a steady flow of customers from both students and faculty.
Walgreens entered into a brand-new 25-year lease in 1995 and has since exercised its second renewal option, extending the current term through November 30, 2030. This demonstrates the tenant’s strong commitment to the site and provides approximately five years of remaining term, with seven additional fiveyear renewal options thereafter.
Walgreens, the second-largest pharmacy chain in the United States, was recently taken private following its acquisition by Sycamore Partners. This transition marks an important new chapter, enabling the company to operate with greater flexibility while maintaining its scale and national presence. With nearly 8,100 locations across all 50 states, Walgreens continues to dominate key markets such as Milwaukee, where it has a long history and deep customer loyalty. Under private ownership, the company is positioned to sharpen its focus on core retail and healthcare operations, reinforcing the stability of this corporate-guaranteed lease and providing investors with confidence in long-term performance.