Log In/Sign Up
Your email has been sent.
Fleet Farm & Chase Bank | Absolute NNN N96 W18200 County Line Rd 177,803 SF Retail Building Germantown, WI 53022 $33,000,000 ($185.60/SF) 6.46% Cap Rate
Investment Highlights
- Acquire Fleet Farm ($1B+ sales, Costco-like wholesaler), w/ a gas station, car wash, rentals, and auto repair, plus a new construction Chase Bank.
- New to market, 15.5-year NNN leases with rare rent escalations and options in a high barrier-to-entry market with limited big-box availability.
- JPMorgan Chase (NYSE: JPM) is the largest bank globally, managing $4.4 trillion in assets, with an S&P credit rating of AA- and a stable outlook.
- Dense commercial corridor off I-41 at a highly visible, signalized intersection location boasting visibility to over 87,800 daily passing vehicles.
- Fleet Farm is a private company and subsidiary of Golub Capital (NASDAQ: GBDC $90 billion + AUM), operating 50+ locations in WI, MN, IA, ND, and SD.
- Institutionally owned Fleet Farm offers patrons brand-labeled Visa credit cards and sponsors the NFL Green Bay Packers and MLB Milwaukee Brewers.
Executive Summary
Newmark Capital Markets and Accredas Investments are proud to present a rare investment opportunity for qualified investors: the acquisition of a fee simple interest in a premier, two-tenant, absolute NNN-leased Fleet Farm & Chase Bank property, ideally situated in the retail epicenter of Germantown, Wisconsin, within the Milwaukee MSA. A long-term 20-year lease with Fleet Farm, a strong Midwest retailer with an infamous attraction, secures the offering.
This outstanding two-tenant retail asset features a full-size Fleet Farm store and a recently constructed Chase Bank on a shared 17.83-acre parcel. Fleet Farm accounts for 94.7% of the total NOI. The Fleet Farm lease commenced in December 2021 and has a firm term through Q4 2041 with 2.00% annual increases and four five-year renewal options. Fleet Farms offers exceptional income stability and a hedge against inflation. Chase Bank’s portion commenced in Q4 2024 and will run through Q4 2039, with three five-year renewal options and 10% annual increases. Chase Bank specifically identified and was granted the opportunity to build on the coveted intersection in front of this highly successful Fleet Farm location.
The subject’s 10-mile demographics confirm a growing population of 331,141 residents, with an affluent average household income exceeding $109,800 and robust consumer spending power of more than $4.2 billion annually. Fleet Farm is just a 10-minute drive from Downtown Milwaukee.
Milwaukee serves as Wisconsin's largest economic center and one of the Midwest's most diversified secondary markets, anchored by a longstanding base of advanced manufacturing, a growing professional-services sector, and nationally recognized corporate headquarters.
Investors won’t want to miss the chance to acquire the well-established Fleet Farm and newly constructed JPMorgan Chase Bank, a profound and well-performing portfolio addition in the bustling Germantown suburb of Milwaukee, Wisconsin.
This outstanding two-tenant retail asset features a full-size Fleet Farm store and a recently constructed Chase Bank on a shared 17.83-acre parcel. Fleet Farm accounts for 94.7% of the total NOI. The Fleet Farm lease commenced in December 2021 and has a firm term through Q4 2041 with 2.00% annual increases and four five-year renewal options. Fleet Farms offers exceptional income stability and a hedge against inflation. Chase Bank’s portion commenced in Q4 2024 and will run through Q4 2039, with three five-year renewal options and 10% annual increases. Chase Bank specifically identified and was granted the opportunity to build on the coveted intersection in front of this highly successful Fleet Farm location.
The subject’s 10-mile demographics confirm a growing population of 331,141 residents, with an affluent average household income exceeding $109,800 and robust consumer spending power of more than $4.2 billion annually. Fleet Farm is just a 10-minute drive from Downtown Milwaukee.
Milwaukee serves as Wisconsin's largest economic center and one of the Midwest's most diversified secondary markets, anchored by a longstanding base of advanced manufacturing, a growing professional-services sector, and nationally recognized corporate headquarters.
Investors won’t want to miss the chance to acquire the well-established Fleet Farm and newly constructed JPMorgan Chase Bank, a profound and well-performing portfolio addition in the bustling Germantown suburb of Milwaukee, Wisconsin.
Sale Flyer
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
177,803 SF
Building Class
B
Year Built/Renovated
1980/2025
Price
$33,000,000
Price Per SF
$185.60
Cap Rate
6.46%
NOI
$2,131,172
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
16.83 AC
Zoning
B-3 - Business Corridor
Parking
450 Spaces (2.49 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Car Charging Station
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Fleet Farm has been serving hardworking families since 1955. They’re built on a foundation of Midwestern values. One could say they’re a lot like their customers. They believe in honoring tradition, taking pride in their work and doing what’s right. At Fleet Farm, people will find the heart of a general store, with the expertise and selection of a specialty store. They’re the one-stop shop with a welcoming, neighborly shopping experience. Fleet Farm is local. They live here, work here and are proud to be part of the communities they serve. They deliver the best products to their hardworking customers. No matter who someone is, there’s something for everyone at Fleet Farm. It’s like their customers say, “If Fleet Farm doesn’t have it, I don’t need it.” So stop in and see what they’re all about. They look forward to seeing new customers soon.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2025 Population
4,229
36,075
61,820
198,133
2030 Population
4,267
36,374
62,445
200,212
2025-2030 Projected Population Growth
0.9%
0.8%
1.0%
1.0%
Median Age
44.0
44.9
44.8
39.6
College Degree + Higher
40%
41%
43%
24%
Daytime Employees
3,680
26,736
50,547
111,716
Total Businesses
331
2,240
3,519
9,131
Average Household Income
$109,504
$113,169
$119,491
$103,494
Median Household Income
$93,212
$93,603
$96,227
$78,360
Total Consumer Spending
$59.4M
$520.2M
$899.9M
$2.4B
2025 Households
1,806
15,682
26,019
78,885
Average Home Value
$374,025
$385,308
$420,233
$362,936
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Crumbl Cookies | - | - | 3 min walk |
| Starbucks | Cafe | $ | 6 min walk |
| Jimmy John's | Fast Food | $ | 7 min walk |
| Buffalo Wild Wings | - | - | 7 min walk |
| KFC | - | - | 6 min walk |
| Applebee's | American | $$$ | 7 min walk |
| Chick-Fil-A | - | - | 9 min walk |
| Wendy's | - | - | 10 min walk |
| McDonald's | - | - | 11 min walk |
| Cracker Barrel Old Country Store | - | - | 12 min walk |
Retail |
||
|---|---|---|
| T-Mobile | Wireless Communications | 3 min walk |
| FedEx Office | Business/Copy/Postal Services | 3 min walk |
| At&t Wireless | Wireless Communications | 4 min walk |
| Aspen Dental | MD/DDS | 5 min walk |
| Verizon | Wireless Communications | 6 min walk |
| U.S. Bank | Bank | 5 min walk |
| Kohl's | Dept Store | 6 min walk |
| Hobby Lobby | Hobby | 7 min walk |
| ALDI | Supermarket | 10 min walk |
| Menards | Home Improvement | 12 min walk |
Hotels |
|
|---|---|
| Comfort Inn |
74 rooms
2 min drive
|
| Home2 Suites by Hilton |
105 rooms
6 min drive
|
| SpringHill Suites |
103 rooms
6 min drive
|
| Country Inn & Suites by Choice |
62 rooms
6 min drive
|
| Delta Hotel |
134 rooms
7 min drive
|
| Best Western |
46 rooms
7 min drive
|
| WoodSpring Suites |
122 rooms
9 min drive
|
| Holiday Inn Express |
120 rooms
12 min drive
|
| Comfort Suites |
120 rooms
13 min drive
|
| Hampton by Hilton |
107 rooms
13 min drive
|
Sale Advisors
Sale Advisors
Matt Berres,
Vice Chairman
Matt Berres is an Executive Managing Director with Newmark’s Net Lease Capital Markets group, a select team of Capital Markets professionals who specialize in the sale, purchase and recapitalization of net leased retail, industrial and office properties throughout the United States. Newmark’s Net Lease Practice group offers an array of core services, including net lease disposition and acquisition advisory, 1031 exchange transactions, sale-leasebacks, portfolio analysis, valuation analysis, market and demographic evaluation, build-to-suit and capital markets consultation. Berres brings to Newmark more than 12 years of expertise in single-tenant deals. A top producer nationally, Berres has closed more than 300 sales transactions valued in excess of $2.5 billion for pension fund advisors, REITs, developers, private high net worth, 1031 exchange and foreign Investors. These transactions include the Walgreens corporate headquarters, Kroger Net Lease Grocer Portfolio, Federal Express warehouse buildings, more than 150 bank branch facilities, Top Golf locations, Veterans Affairs/GSA facilities and mission-critical office assets. Prior to joining Newmark in 2019, Berres was a Managing Director with Jones Lang LaSalle’s Net Lease Property Group, where he assisted clients in the acquisition and disposition of single tenant investments throughout the country. From 2015 to 2018, he was JLL’s No. 1 ranked producer nationwide. Prior to his career in commercial real estate, Berres played professional golf on various professional golf mini-tours around the country, including the Gateway Tour, US Pro Golf Tour, Pepsi Tour, Dakotas Tour and Nationwide Tour. Berres is President of Young Real Estate Professionals (YREP) and an active member of the Wisconsin Real Estate Alumni Association, International Council of Shopping Centers (ICSC), ICSC Next Generation, Urban Land Institute (ULI) and ULI Young Leaders. He earned a Bachelor of Arts degree in finance, investments and banking from the University of Wisconsin-Madison. Berres is active in the Orange County community, serving in various non-profit organizations, and in his church. He also enjoys competing in amateur golf tournaments, beach volleyball, surfing, and spending time with his wife, Brittany, daughter, Olivia and son Luca.
Kyle Miller, Executive Managing Director
Kyle R. Miller joined Newmark in 2018 and currently serves as an Executive Managing Director of its West Coast retail team in Los Angeles. Miller specializes in representing institutional and private clients in capital market transactions and investment sales. He has to date completed transactions with a combined value in excess of $5 billion.
Prior to Newmark, Miller worked for nine years at Savills Studley as a Senior Managing Director. In this role, he advised clients on the acquisition and disposition of retail properties, including neighborhood, community, power center and single-tenant investments.
Prior to Savills Studley, Miller served as a Vice President at Colliers International for two years. He began his career at Grubb & Ellis, now a part of Newmark, where he served as an associate director for two years.
Prior to Newmark, Miller worked for nine years at Savills Studley as a Senior Managing Director. In this role, he advised clients on the acquisition and disposition of retail properties, including neighborhood, community, power center and single-tenant investments.
Prior to Savills Studley, Miller served as a Vice President at Colliers International for two years. He began his career at Grubb & Ellis, now a part of Newmark, where he served as an associate director for two years.
William Bauman, Vice Chairman
Bill Bauman joined Newmark Knight Frank's Capital Markets team in January 2018 as a vice chairman in the firm's Downtown Los Angeles office, where he heads a full-service retail brokerage team specializing in retail land planning, developer consultation and investment sales. A 30-year industry veteran, Mr. Bauman has completed more than $19 billion in transactions.
Mr. Bauman has an extensive background in land acquisition and disposition programs, pre-leasing commitments, retail tenant representation, investment sales, development consulting services and overall retail market analysis. His team provides comprehensive tenant representation consultation services, including expert market and trade area analysis, competitor analysis, lease negotiation services, implementation of roll-out strategies and overall market expertise.
Recognized nationally as one of Real Estate Forum's top brokers, Mr. Bauman has represented a distinguished clientele of institutional and private owners in the execution of their real estate initiatives. He actively participates in the entire real estate process, tailoring strategies to meet the particular needs of his clients.
Prior to Newmark Knight Frank, Mr. Bauman served for eight years as a vice chairman of Savills Studley's National Retail Service Group. He was the firm's top retail producer in the country for nine consecutive years and was consistently among its top overall producers nationally.
Previously, Mr. Bauman was a senior vice president, partner and manager at Colliers International, where he built the firm's full-service Retail Properties Group. He was also the top retail producer for Colliers International from 1994 to 2008, and for six of the last eight years, he was the top producer overall for Colliers International Southern California region for six of the last eight years.
Mr. Bauman has an extensive background in land acquisition and disposition programs, pre-leasing commitments, retail tenant representation, investment sales, development consulting services and overall retail market analysis. His team provides comprehensive tenant representation consultation services, including expert market and trade area analysis, competitor analysis, lease negotiation services, implementation of roll-out strategies and overall market expertise.
Recognized nationally as one of Real Estate Forum's top brokers, Mr. Bauman has represented a distinguished clientele of institutional and private owners in the execution of their real estate initiatives. He actively participates in the entire real estate process, tailoring strategies to meet the particular needs of his clients.
Prior to Newmark Knight Frank, Mr. Bauman served for eight years as a vice chairman of Savills Studley's National Retail Service Group. He was the firm's top retail producer in the country for nine consecutive years and was consistently among its top overall producers nationally.
Previously, Mr. Bauman was a senior vice president, partner and manager at Colliers International, where he built the firm's full-service Retail Properties Group. He was also the top retail producer for Colliers International from 1994 to 2008, and for six of the last eight years, he was the top producer overall for Colliers International Southern California region for six of the last eight years.
Aldy Damian,
President - CEO
Aldy Damian has 35 Years of experience and has transacted over 1,500,000 sq ft of commercial real estate. Over $250 Million in financing, sales and 1031 exchanges. Accredas investment’s (Founded by Aldy Damian who began as a music, video and distribution executive with record label imprints as Damian Music and D3 Entertainment with BMG / Sony internationally, releasing in excess of 178 Albums and DVD’s). Aldy Damian also served as executive Vice President and Co-founder of Liberation Entertainment with acclaimed MCA Records president and veteran multimedia executive Jay Boberg (CEO), who was responsible for obtaining the financial backing of Clarity Partners ($1Billion dollar investments banking firm) to form Liberation Entertainment. https://www.claritypartners.net/portfolio. Accredas Investments continues its media ventures along with commercial property investment and development in real estate specializing in Core and Core plus properties targeting Class A properties and value-add commercial properties to serve their clients. CEO and head of operations, Aldy Damian is a 34-year multi-faceted executive transacting in excess of one million one hundred thousand square feet of investment property. Masters Degree in business management UCSan Diego.
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Company Not Provided
Fleet Farm & Chase Bank | Absolute NNN | N96 W18200 County Line Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.