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    New Starbucks in Waukesha, Wisconsin Title is generated by Realmo AI

    151 West Sunset Drive, Waukesha, WI 53189

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    For Sale
    $2,625,000

    New build-to-suit Starbucks with a 10-year corporate lease.

    Type:Retail
    Property size:
    2,570 SF
    Price / SF:
    $1,021/SF
    Added:
    Apr 1, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 1 at 11:49 am

    Property Features for 151 West Sunset Drive

    General Information

    Standard status
    Active
    Size
    2,570 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    Dan Rosenfeld
    Dan Rosenfeld

    Listing agent Dan Rosenfeld License #55452

    Listing office Mid America Real Estate Milwaukee

    Listing date Apr 1, 2026

    Source Midamericagrp

    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 Milwaukee

    HighLights

    • 10‑year corporate guaranteed lease with Starbucks (investment grade tenant rated BBB+/Baa1) provides stable, long‑term income.
    • Brand new 2,570 square foot build‑to‑suit drive‑thru location.
    • Located on Sunset Drive, a primary retail corridor, with high visibility and traffic counts of 15,000 vehicles per day.
    • Strong demographics within a five‑mile radius: 96,999 residents and $113,494 average household income.
    • Scheduled rental increases every five years.
    • Dense student population including Carroll University and multiple high schools within four miles.

    Overview

    The property is a new 2,570 square foot Starbucks with a drive-thru, located at 151 West Sunset Drive in Waukesha, Wisconsin. It is secured by a 10-year corporate guaranteed lease with four five-year renewal options and scheduled rent increases. The tenant is an investment grade credit, rated BBB+ by S&P and Baa1 by Moody’s. The location is an outlot along Sunset Drive, a primary retail corridor in Waukesha, with traffic counts of 15,000 vehicles per day on Sunset Drive and 9,800 vehicles per day on South East Avenue. The surrounding area has strong demographics, featuring 96,999 residents and an average household income of $113,494 within a five-mile radius. There is a dense student and academic base within four miles, including Carroll University and three high schools. The property is adjacent to Pick ’n Save, Meijer, Crunch Fitness, and the Shoppes of Fox River power center, located in one of Southeastern Wisconsin’s most desirable suburban submarkets. The intended use of the property is for commercial purposes.
    Location Intelligence

    Current Use by Public Records

    Coffee shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Einstein Bros. Bagels — 180 E Sunset Dr Suite A, Waukesha, WI 53189
    • Starbucks — 801 E Sunset Dr, Waukesha, WI 53189

    Location Insight

    • Map
    • Local Demand
    City
    Waukesha
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2249401
    Latitude
    42.9878775

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    FAQs

    What type of property is this?
    Coffee shop - New build-to-suit Starbucks with a 10-year corporate lease.
    Where is this coffee shop located?
    The property is located at 151 West Sunset Drive Waukesha, WI.
    What is the asking price?
    The asking price for this property is $2,625,000.
    What are key features of this property?
    This property features: 10‑year corporate guaranteed lease with Starbucks (investment grade tenant rated BBB+/Baa1) provides stable, long‑term income.; Brand new 2,570 square foot build‑to‑suit drive‑thru location.; Located on Sunset Drive, a primary retail corridor, with high visibility and traffic counts of 15,000 vehicles per day.
    (414) 390-1402
    We can help!
    Listing Contact
    Dan Rosenfeld
    Dan Rosenfeld
    Real Estate License ID: 55452
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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