Building Details

Year Built 2008

Tenancy Single

Listing Agency: CBRE - Madison b***@cbre.com Show Phone

Listed By: Brian Wolff · License #WI 45380-90

Source: Crexi

Added: Mar 6 Changed: Aug 8 Last Checked: Jul 24 at 8:58AM

Report an Issue

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 CBRE - Madison

Investment Insights

Based on property information with market context.

Available for sale is a 13,650-square-foot retail property occupied by Walgreens, situated on a 1.37-acre lot in Sauk City, Wisconsin. The population of Sauk City is 67,070.

Key Highlights

• Walgreens is the tenant.
• Property size is 13,650 square feet.
• Located on 1.37 acres.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$179,484

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.24%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,589,680 $3.6M

Cap Rate 7%

$2,564,057 $2.6M

Cap Rate 9%

$1,994,267 $2.0M

Market Conditions

NOI Build-Up for 13,650 SF 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.

Gross rent

$245.7K $18.00/SF

− Vacancy

−$6.4K −$0.47/SF

EGI

$239.3K $17.53/SF

− OpEx

−$59.8K −$4.38/SF

NOI

$179.5K $13.15/SF

Area

Sauk County, WI

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$3,589,680

Cap Rate 7%

$2,564,057

Cap Rate 9%

$1,994,267

Alternative Uses

Best Use

Specialty Retail

$2.56M

$2.24M – $2.99M (±1% cap)

NOI $179,484 @ 7.0% cap · market cap 5.24%

Second Best

Retail

$1.97M

$1.72M – $2.29M (±1% cap)

NOI $137,592 @ 7.0% cap · market cap 4.02%

Theoretical Best

Office A

$2.76M

$2.42M – $3.22M (±1% cap)

NOI $193,415 @ 7.0% cap · market cap 5.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy FedEx OnSite Postal Service Debra A. Steuck, RPh Pharmacy Walgreens Pharmacy

Suggested Use

Top Pick Dental Office Electrical Service HVAC Service Grocery & Convenience Store Bakery (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

252

Businesses Nearby

106k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 21% Groceries 20% Electronics 3%

Culver's Dining

23,532 visits/mo 0.3 miles

Piggly Wiggly Groceries

21,472 visits/mo 0.2 miles

McDonald's Dining

19,494 visits/mo 0.2 miles

Cenex Shops & Services

10,774 visits/mo 0.2 miles

Dunkin' Donuts Dining

9,759 visits/mo 0.5 miles

Demographics for 53583, WI

5,787

Population

2,525

Households

2.3

Avg Household Size

44

Median Age

27%

College-Educated

95%

High-School Grad

74.6 sq mi

ZIP Area

78

Density / Sq Mi

$92,792

Median Household Income

$51,793

Median Earnings

$1,078

Median Rent

$305,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• Walgreens Pharmacy — 333 Phillips Blvd, Sauk City, WI 53583
• Jewel-Osco Pharmacy — 1700 Phillips Blvd, Sauk City, WI 53583
• Debra A. Steuck, RPh — 333 Phillips Blvd, Sauk City, WI 53583
• Jennifer Wales, PharmD — 333 Phillips Blvd, Sauk City, WI 53583
• Shared Imaging Services — 944 Water St, Sauk City, WI 53583

Frequently Asked Questions

What type of property is this?

Drug store - 13,650 SF Walgreens on 1.37 acres for sale.

Where is this drug store located?

The property is located at 333 Phillips Blvd Sauk City, WI.

What is the asking price?

The asking price for this property is $3,424,600.

What are key features of this property?

This property features: Walgreens is the tenant.; Property size is 13,650 square feet.; Located on 1.37 acres.