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Cornerstone Shopping Center | Glendale, WI 5575 N Port Washington Rd 13,308 SF 100% Leased Retail Building Milwaukee, WI 53217 $6,750,000 ($507.21/SF) 6.55% Cap Rate
Investment Highlights
- Four-Tenant, Service- and Necessity-Based Retail Investment Across from Bayshore, One of Wisconsin’s Premier Mixed-Use Destinations
- Corporate Wild Fork Foods: Premium meat and seafood market backed by JBS USA, a subsidiary of JBS S.A., the largest meatpacking company in the world
- Corporate Panera Bread: Long-term operating history since 2003 (23 years)
- Three of the four tenants have rental increases in year two, increasing the cap rate by 35 basis points
- Corporate Pearle Vision: Long-term operating history since 2003 (23 years)
- Vivo Infusion: Brand-new 5-year lease
Executive Summary
Corporate Leases with Replaceable Rents | Across from Bayshore (6.4 Million Annual Visitors, placer.ai) | Affluent North Shore Trade Area ($158,000+ AHHI)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,308 SF
Building Class
B
Year Built
2003
Price
$6,750,000
Price Per SF
$507.21
Cap Rate
6.55%
NOI
$442,125
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
1.05 AC
Parking
65 Spaces (4.88 Spaces per 1,000 SF Leased)
Frontage
1’ on SILVER SPRING DR
Amenities
- Bus Line
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 196-8985-001 | Improvements Assessment | $1,581,300 |
| Land Assessment | $3,293,800 | Total Assessment | $4,875,100 |
Property Taxes
Parcel Number
196-8985-001
Land Assessment
$3,293,800
Improvements Assessment
$1,581,300
Total Assessment
$4,875,100
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