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Freestanding Walgreens in Janesville, WI

1717 Milton Ave, Janesville, WI 53545

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For Sale

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Freestanding 13,905 SF Walgreens on 1.44 acres.

Type:Retail

Property size:

13,905 SF

Lot size:

1.44 Acres

Price / SF:

$249/SF

HighLights

Walgreens recently extended its lease, demonstrating commitment to the location.
Fee‑simple interest in a freestanding Walgreens building.
Highly passive net lease investment opportunity with minimal landlord responsibilities.
Large 1.44‑acre parcel of land.
+/- 13,905 square foot building.
Ample parking and a drive‑thru.

We can help!

Listing Contact

BJ Feller

For Sale

Contact for pricing

Freestanding 13,905 SF Walgreens on 1.44 acres.

Type:Retail

Property size:

13,905 SF

Lot size:

1.44 Acres

Price / SF:

$249/SF

Added:: Jun 5, 2024
Days on Market:: 740
Last Refresh:: May 12 at 8:34 pm

Property Features for 1717 Milton Ave

General Information

Standard status: Active
Size: 13,905 SF
Lot size: 1.44 Acres
Property subtype: Retail

Building Details

Year Built: 1998

We can help!

Listing Contact

BJ Feller

Listing agent BJ Feller License #IL 471007951

Listing office Northmarq Capital, LLC

Listing date Jun 5, 2024

Source Crexi

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 Northmarq Capital, LLC

HighLights

Walgreens recently extended its lease, demonstrating commitment to the location.
Fee‑simple interest in a freestanding Walgreens building.
Highly passive net lease investment opportunity with minimal landlord responsibilities.
Large 1.44‑acre parcel of land.
+/- 13,905 square foot building.
Ample parking and a drive‑thru.

Overview

The property is a freestanding building of approximately 13,905 square feet situated on a 1.44-acre parcel. It features ample parking and a drive-thru. The property is occupied by Walgreens, which recently extended its lease at this location. The lease features minimal landlord responsibilities, making this a passive net lease investment opportunity.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$300.3k	$21.60
− Vacancy	−$7.8k	−$0.56
EGI	$292.5k	$21.04
− OpEx	−$73.1k	−$5.26
NOI	$219.4k	$15.78

13,905 SF · lease $21.60/SF/yr · vacancy 2.60% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$3.13M

$2.74M – $3.66M (±1% cap)

NOI $219,404 @ 7.0% cap · market cap 6.33%

Second Best

Retail

$2.40M

$2.10M – $2.80M (±1% cap)

NOI $167,844 @ 7.0% cap · market cap 4.84%

Theoretical Best

Office A

$3.34M

$2.92M – $3.90M (±1% cap)

NOI $233,904 @ 7.0% cap · market cap 6.74%

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

Property Profile Location Intelligence

Current Use by Public Records

Walgreens Pharmacy Sheila Williams, PharmD Pharmacy Lori Olson, PharmD Pharmacy Connie M. Nelson, ... Pharmacy Walgreens Pharmacy Pharmacy

Suggested Use

Similar Places Nearby

Joseph D. Riebe, PharmD — 21 S Jackson St, Janesville, WI 53548, United States
Hemp1848 — 30 S Main St, Janesville, WI 53545
Hemp1848 Main Street — 30 S Main St, Janesville, WI 53545
One Stop Barber Shop — 21 N Main St Suite 150, Janesville, WI 53548
Hometown Pharmacy — 21 S Jackson St Suite 100, Janesville, WI 53548

Location Insight

Map
Local Demand

City: Janesville
County: Rock
State: Wisconsin
Longitude: -89.0072535
Latitude: 42.7048922

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For sale
Drug stores
WI
Janesville
53545
1717 Milton Ave

What type of property is this?

Drug store - Freestanding 13,905 SF Walgreens on 1.44 acres.

Where is this drug store located?

The property is located at 1717 Milton Ave Janesville, WI.

What is the asking price?

The asking price for this property is $3,468,000.

What are key features of this property?

This property features: Walgreens recently extended its lease, demonstrating commitment to the location.; Fee‑simple interest in a freestanding Walgreens building.; Highly passive net lease investment opportunity with minimal landlord responsibilities.

1717 Milton Ave, Janesville, WI 53545

Freestanding 13,905 SF Walgreens on 1.44 acres.

Property Features for 1717 Milton Ave

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Industrial Building with Office-Lab

Historic Janesville Bed & Breakfast

Turnkey Bait Shop Opportunity

Freestanding Office Building with Drive-Thru

Updated Two-Flat Residential Income

Renovated Duplex Income Property

Ranch Duplex with Private Yards

Renovated Duplex with Separate Utilities

Former Assisted Living Facility

3-Bedroom Duplex Residential Income

Side-by-Side Duplex with Off-Street Parking

Upper/Lower Duplex with 1-Bed Units

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