Grocery-Anchored Retail
121 West Oklahoma Avenue Milwaukee, WI 53207
For Sale
Contact for pricing
Grocery-anchored shopping center with a proven tenant roster and remaining vacant suites on net leases.
Property Size99,696 SF
Price / SF$136.11
Days on Market79
Property Features for 121 West Oklahoma Avenue
General Information
- Standard status
- Active
- Size
- 99,696 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1985
Listing Agency:
Marcus & Millichap SWM Group
Listed By:
Sean Sharko · License #IL 471.010712
Source:
Crexi
Added: May 7
Changed: Jul 23
Last Checked: Jul 23 at 3:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap SWM Group
Investment Insights
Based on property information with market context.
This grocery-anchored shopping center is currently 97 percent occupied and operated on net leases, with all tenants covered under net lease arrangements. The property’s anchor is Piggly Wiggly, with a listed corporate lease tenure of 14.92 years. Other established tenants include Goodwill (13.50 years), AutoZone (8.75 years), and Rosati’s Pizza (8.33 years). Dunkin’ began a 10-year term in February 2026.
Additional tenants with remaining lease term include Planet Fitness (over 8 years) and AT&T (over 5 years). The center is situated at a signalized intersection with 31,500 vehicles per day and is just off Interstate 94/43, with 127,000 vehicles per day.
Two remaining suites total 3,188 square feet of vacancy, providing leasing flexibility within the current tenant roster.
Additional tenants with remaining lease term include Planet Fitness (over 8 years) and AT&T (over 5 years). The center is situated at a signalized intersection with 31,500 vehicles per day and is just off Interstate 94/43, with 127,000 vehicles per day.
Two remaining suites total 3,188 square feet of vacancy, providing leasing flexibility within the current tenant roster.
Key Highlights
- 1985‑built grocery‑anchored shopping center with proven tenant roster and net leases
- Piggly Wiggly lease tenure: 14.92 years (wholly owned subsidiary of C&S Wholesale Grocers, LLC)
- Dunkin began a 10‑year term in February 2026
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.73M | $17.40 |
| − Vacancy | −$104.1k | −$1.04 |
| EGI | $1.63M | $16.36 |
| − OpEx | −$407.7k | −$4.09 |
| NOI | $1.22M | $12.27 |
99,696 SF · lease $17.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$17.47M
$15.29M – $20.38M
NOI $1,222,971 @ 7.0% cap · market cap 9.01%
Second Best
Retail
$14.94M
$13.07M – $17.43M
NOI $1,045,761 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$23.96M
$20.96M – $27.95M
NOI $1,677,046 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Planet Fitness
Gym & Fitness Center
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 833 W Oklahoma Ave, Milwaukee, WI 53215
- Coinstar Kiosk | Bitcoin ATM — Roundy's Inc, 250 W Holt Ave, Milwaukee, WI 53207
FAQs
What type of property is this?
Shopping center - Grocery-anchored shopping center with a proven tenant roster and remaining vacant suites on net leases.
Where is this shopping center located?
The property is located at 121 West Oklahoma Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $13,570,000.
What are key features of this property?
This property features: 1985‑built grocery‑anchored shopping center with proven tenant roster and net leases; Piggly Wiggly lease tenure: 14.92 years (wholly owned subsidiary of C&S Wholesale Grocers, LLC); Dunkin began a 10‑year term in February 2026
