Single-Tenant Pediatric
For Sale
$2,864,357
2561 N 29th St, Milwaukee, WI 53210
Purpose-built 7,583-square-foot outpatient clinic built in 2010, secured by an absolute NNN lease with long remaining term.
Property Size7,583 SF
Price / SF$377.73
Days on Market94
Property Features for 2561 N 29th St
General Information
Standard status
Active
Size
7,583 SF
Property subtype
Single-Tenant Office Medical
Lease Type
Absolute Net
Additional Details
Cap Rate
6.75%
Highway Access
Yes
Amenities
Long-Term NNN Lease with ±10 Years Remaining Through April 2036 | Zero Landlord Responsibilities
Scheduled 1% Annual Rental Increases Providing Consistent Income Growth and Inflation Protection
Milwaukee MSA with 1.58 Million Residents and $116,353 Average Household Income
Near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD) with Access to I-43 and U.S. Highway 41
Building Details
Building Size
7,583 SF
Year Built
2010
Tenancy
Single
Listing Agency:
Los Angeles Office
Listed By:
Rob Narchi · License #License(s): CA: 01788517, CA: 01324570
(310) 909-5426
Source:
Marcusmillichap
Added: Jul 11
Changed: Oct 5
Last Checked: Oct 12 at 4:53PM
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 Los Angeles Office
Investment Insights
Based on property information with market context.
This single-tenant Children’s Wisconsin outpatient clinic is a purpose-built healthcare facility totaling 7,583 square feet and constructed in 2010. The property is secured by a long-term absolute NNN lease with approximately 10 years remaining through April 2036 and zero landlord responsibilities. Lease payments include scheduled 1% annual rental increases, plus two (2) five-year renewal options. The lease is guaranteed by the State of Wisconsin (Aa3 Moody’s), providing additional credit strength and long-term income durability.
The building is located along North 29th Street in Milwaukee and provides convenient access to Interstate 43 and U.S. Highway 41. It is near Fond du Lac Avenue and North Avenue, with daily traffic counts cited at approximately 120,098 VPD and 110,812 VPD, respectively. The surrounding area includes Marquette University and major healthcare and entertainment destinations listed in the offering materials.
The building is located along North 29th Street in Milwaukee and provides convenient access to Interstate 43 and U.S. Highway 41. It is near Fond du Lac Avenue and North Avenue, with daily traffic counts cited at approximately 120,098 VPD and 110,812 VPD, respectively. The surrounding area includes Marquette University and major healthcare and entertainment destinations listed in the offering materials.
Key Highlights
- 7,583 SF purpose‑built Children’s Wisconsin outpatient clinic built in 2010
- Single‑tenant absolute NNN lease with ~10 years remaining through April 2036
- Lease generates $200,505 annual base rent with 6.75% cap rate and 1% scheduled annual rental increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,424
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,748,480
$1.7M
Cap Rate 7%
$1,248,914
$1.2M
Cap Rate 9%
$971,378
$971.4K
Market Conditions
NOI Build-Up for 7,583 SF
Gross rent
$159.2K $21.00/SF
− Vacancy
−$13.5K −$1.79/SF
EGI
$145.7K $19.22/SF
− OpEx
−$58.3K −$7.69/SF
NOI
$87.4K $11.53/SF
Area
Milwaukee, WI
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,748,480
Cap Rate 7%
$1,248,914
Cap Rate 9%
$971,378
Alternative Uses
Best Use
Healthcare Medical
$1.25M
$1.09M – $1.46M
NOI $87,424 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.13M
NOI $127,558 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Purpose-built 7,583-square-foot outpatient clinic built in 2010, secured by an absolute NNN lease with long remaining term.
Where is this medical center located?
The property is located at 2561 N 29th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,864,357.
What are key features of this property?
This property features: 7,583 SF purpose‑built Children’s Wisconsin outpatient clinic built in 2010; Single‑tenant absolute NNN lease with ~10 years remaining through April 2036; Lease generates $200,505 annual base rent with 6.75% cap rate and 1% scheduled annual rental increases
