Single-Tenant Pediatric
2561 North 29th Street Milwaukee, WI 53210
2561 North 29th Street, Milwaukee, WI, 53210
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For Sale
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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$391.72
Days on Market14
Property Features for 2561 North 29th Street
General Information
- Standard status
- Active
- Size
- 7,583 SF
- Property subtype
- Office
Building Details
- Year Built
- 2010
Listing agency
Marcus & Millichap - Los Angeles
(310) 909-5500
Listed by
Robert Narchi · License #01324570
Source
Crexi
Added: Jul 9 Updated: Jul 21 at 7:05PM Checked: Jul 21 at 7:05PM
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 Marcus & Millichap - Los Angeles
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
Local Financial Insights For Healthcare Medical
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 | $159.2k | $21.00 |
| − Vacancy | −$13.5k | −$1.79 |
| EGI | $145.7k | $19.22 |
| − OpEx | −$58.3k | −$7.69 |
| NOI | $87.4k | $11.53 |
7,583 SF · lease $21.00/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.25M
$1.09M – $1.46M
NOI $87,424 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.13M
NOI $127,558 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Children's Dental Center-Next ...
Dental Office
Primary Care & Dental ...
Dental Office
Brittany L Mathews, ...
Physician
Lisa Chowdhury, MD
Pediatrician
Brilliant G Nimmer, ...
Pediatrician
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FAQs
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 North 29th Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,970,444.
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
