Freestanding Walgreens in Janesville,
1717 Milton Ave Janesville, WI 53545
For Sale
Contact for pricing
Pending
Freestanding 13,905 SF Walgreens on 1.44 acres.
Property Size13,905 SF
Lot Size1.44 Acres
Days on Market786
Property Features for 1717 Milton Ave
General Information
Standard status
Pending
Size
13,905 SF
Lot size
1.44 Acres
Property subtype
Retail
Building Details
Year Built
1998
Listing Agency:
Northmarq Capital, LLC
Listed By:
BJ Feller · License #IL 471007951
Source:
Crexi
Added: Jun 5, 2024
Changed: Jul 6
Last Checked: Jul 29 at 3:07PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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 | $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
NOI $219,404 @ 7.0% cap · market cap 6.33%
Second Best
Retail
$2.40M
$2.10M – $2.80M
NOI $167,844 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,904 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Dawn M. Recker, PharmD — 1501 creston park dr, janesville, wi 53545
- Alpha Supplements — 1703 mayfair dr, janesville, wi 53545
- COVID-19 Drive-Thru Testing at Walgreens — 1717 Milton Ave, Janesville, WI 53545
- Sheila Williams, PharmD — 1717 Milton Ave, Janesville, WI 53545
- Lori Olson, PharmD — 1717 Milton Ave, Janesville, WI 53545
Frequently Asked Questions
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.
