Grocery and Convenience Retail
For Sale
Contact for pricing
4300-4400 67th Dr, Union Grove, WI 53182
Substantial retail improvements occupy a four-acre parcel under a long-term Piggly Wiggly lease.
Property Size43,868 SF
Lot Size4.00 Acres
Price / SF$181.04
Days on Market61
Property Features for 4300-4400 67th Dr
General Information
Standard status
Active
Size
43,868 SF
Lot size
4.00 Acres
Property subtype
RETAIL
Net Operating Income
$516,252
Listing Agency:
Lee & Associates of Madison
(608) 575-1694
Listed By:
John Walsh
(608) 575-1694
Source:
Moodyscre
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 4:02PM
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 Lee & Associates of Madison
Investment Insights
Based on property information with market context.
The property includes a 43,868-square-foot retail building situated on 4 acres. A Piggly Wiggly lease has a 10-year term, with expiration scheduled for 11/29/33, and the lease includes corporate guarantees.
The property is located at 4300-4400 67th Dr in Union Grove, Wisconsin. Its grocery-oriented retail configuration and established lease term provide a defined operating profile for commercial real estate buyers.
The property is located at 4300-4400 67th Dr in Union Grove, Wisconsin. Its grocery-oriented retail configuration and established lease term provide a defined operating profile for commercial real estate buyers.
Key Highlights
- 43,868 sq. ft. retail building
- 4‑acre property
- Piggly Wiggly lease with a 10‑year term
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
$608,958
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
7.67%
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%
$12,179,160
$12.2M
Cap Rate 7%
$8,699,400
$8.7M
Cap Rate 9%
$6,766,200
$6.8M
Market Conditions
NOI Build-Up for 43,868 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
$842.3K $19.20/SF
− Vacancy
−$30.3K −$0.69/SF
EGI
$811.9K $18.51/SF
− OpEx
−$203.0K −$4.63/SF
NOI
$609.0K $13.88/SF
Area
Racine County, WI
Vacancy
3.60%
Lease Rate
$19.20 /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%
$12,179,160
Cap Rate 7%
$8,699,400
Cap Rate 9%
$6,766,200
Alternative Uses
Best Use
Specialty Retail
$8.70M
$7.61M – $10.15M
NOI $608,958 @ 7.0% cap · market cap 7.67%
Second Best
Retail
$6.38M
$5.58M – $7.44M
NOI $446,335 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$10.55M
$9.23M – $12.31M
NOI $738,456 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
13k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 87%
Dining 13%
Piggly Wiggly
Groceries
11,443 visits/mo
0.1 miles
Domino's Pizza
Dining
1,694 visits/mo
0.1 miles
Demographics for 53182, WI
9,422
Population
3,471
Households
2.7
Avg Household Size
44
Median Age
27%
College-Educated
92%
High-School Grad
55.3 sq mi
ZIP Area
170
Density / Sq Mi
$93,175
Median Household Income
$53,210
Median Earnings
$1,067
Median Rent
$305,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Piggly Wiggly — 4400 67th Dr, Union Grove, WI 53182
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Substantial retail improvements occupy a four-acre parcel under a long-term Piggly Wiggly lease.
Where is this grocery and convenience store located?
The property is located at 4300-4400 67th Dr Union Grove, WI.
What is the asking price?
The asking price for this property is $7,942,000.
What are key features of this property?
This property features: 43,868 sq. ft. retail building; 4‑acre property; Piggly Wiggly lease with a 10‑year term
