Freestanding Arby's Net
For Sale
$1,510,000
1900 Silvernail Road, Waukesha, WI 53186
Freestanding Arby’s on an outlot with a 9.3-year net lease sold as a 100% simple interest.
Property Size4,141 SF
Price / SF$364.65
Days on Market145
Property Features for 1900 Silvernail Road
General Information
Standard status
Active
Size
4,141 SF
Building Details
Building Size
4,141 SF
Listing Agency:
Mid-America Real Estate
(630) 954-7398
Listed By:
George Ghattas · License #475135588
Source:
Midamericagrp
Added: Apr 7
Changed: Aug 8
Last Checked: Jul 23 at 7:12AM
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 Mid-America Real Estate
Investment Insights
Based on property information with market context.
The offering is a freestanding Arby’s restaurant comprising 4,141 square feet, being sold as a 100% simple interest. The property features a 9.3-year net lease.
The site is located at the southeast corner of Silvernail Plaza, off N Grandview Boulevard in Waukesha, Wisconsin, positioned as an outlot to a lineup of desirable tenants.
This purchase presents a single-asset, income-oriented opportunity centered on a dedicated restaurant footprint within a developed retail setting.
The site is located at the southeast corner of Silvernail Plaza, off N Grandview Boulevard in Waukesha, Wisconsin, positioned as an outlot to a lineup of desirable tenants.
This purchase presents a single-asset, income-oriented opportunity centered on a dedicated restaurant footprint within a developed retail setting.
Key Highlights
- 4,141 SF freestanding Arby’s on the southeast corner of Silvernail Plaza off N Grandview Boulevard, Waukesha, WI
- Offered for sale as 100% simple interest
- 9.3‑year net lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,818
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,796,360
$1.8M
Cap Rate 7%
$1,283,114
$1.3M
Cap Rate 9%
$997,978
$998.0K
Market Conditions
NOI Build-Up for 4,141 SF
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.
Gross rent
$124.2K $30.00/SF
− Vacancy
−$4.5K −$1.08/SF
EGI
$119.8K $28.92/SF
− OpEx
−$29.9K −$7.23/SF
NOI
$89.8K $21.69/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,796,360
Cap Rate 7%
$1,283,114
Cap Rate 9%
$997,978
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.50M
NOI $89,818 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.11M
$1.85M – $2.47M
NOI $147,941 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding Arby’s on an outlot with a 9.3-year net lease sold as a 100% simple interest.
Where is this conventional restaurant located?
The property is located at 1900 Silvernail Road Waukesha, WI.
What is the asking price?
The asking price for this property is $1,510,000.
What are key features of this property?
This property features: 4,141 SF freestanding Arby’s on the southeast corner of Silvernail Plaza off N Grandview Boulevard, Waukesha, WI; Offered for sale as 100% simple interest; 9.3‑year net lease
