Target NNN Retail
For Sale
Contact for pricing
5701 N Lydell Ave, Glendale, WI 53217
Corporate-leased retail asset with long-term NNN structure and limited landlord responsibilities.
Property Size128,512 SF
Price / SF$119.44
Days on Market212
Property Features for 5701 N Lydell Ave
General Information
Standard status
Active
Size
128,512 SF
Total Parking Spaces
138
Property subtype
Retail
Zoning
PD - Planned Unit Development District
Occupancy
100%
Lease Type
NNN
Net Operating Income
$805,770
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Kohl's (shadow), Barnes & Noble, Trader Joe's, Old Navy, Apple, Total Wine & More, The Cheesecake Factory
Highway Access
Yes
Building Details
Year Built
1957
Year Renovated
2021
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Patrick R. Luther, CCIM · License #01912215
(480) 221-4221
Source:
Crexi
Added: Mar 19
Changed: Oct 14
Last Checked: Oct 16 at 5:51AM
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 SRS Real Estate Partners Newport Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a 128,512-square-foot retail building constructed in 1957 and occupied by Target under a corporate-signed NNN lease. The lease provides over 10 years of firm term remaining, followed by 10 additional 5-year extension options. Contractual rent increases of 10% occur every 5 years during the initial term and option periods, while limited landlord responsibilities support a low-management ownership structure. The tenant carries an S&P A rating.
Located at the signalized intersection of Silver Springs Drive and Port Washington Road, the property benefits from exposure to combined daily traffic of 54,900 vehicles and fronts Interstate 43, which records 92,700 VPD. The site serves as an anchor for Bayshore, a 1.27M+ SF mixed-use center with tenants including Kohl’s, Barnes & Noble, Trader Joe’s, Old Navy, Apple, Total Wine & More, and The Cheesecake Factory. Bayshore recorded over 6.4M annual visits from February 2025 through January 2026, ranking in the 97th percentile nationwide according to Placer.ai.
The property is zoned PD - Planned Unit Development District and is approximately a 20-minute drive from Downtown Milwaukee via Interstate 43.
Located at the signalized intersection of Silver Springs Drive and Port Washington Road, the property benefits from exposure to combined daily traffic of 54,900 vehicles and fronts Interstate 43, which records 92,700 VPD. The site serves as an anchor for Bayshore, a 1.27M+ SF mixed-use center with tenants including Kohl’s, Barnes & Noble, Trader Joe’s, Old Navy, Apple, Total Wine & More, and The Cheesecake Factory. Bayshore recorded over 6.4M annual visits from February 2025 through January 2026, ranking in the 97th percentile nationwide according to Placer.ai.
The property is zoned PD - Planned Unit Development District and is approximately a 20-minute drive from Downtown Milwaukee via Interstate 43.
Key Highlights
- 128,512‑square‑foot Target retail property constructed in 1957
- Corporate‑signed NNN lease with over 10 years of firm term remaining
- 10 additional 5‑year extension options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,300,798
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$26,015,960
$26.0M
Cap Rate 7%
$18,582,829
$18.6M
Cap Rate 9%
$14,453,311
$14.5M
Market Conditions
NOI Build-Up for 128,512 SF
Gross rent
$1.93M $15.00/SF
− Vacancy
−$69.4K −$0.54/SF
EGI
$1.86M $14.46/SF
− OpEx
−$557.5K −$4.34/SF
NOI
$1.30M $10.12/SF
Area
Milwaukee County, WI
Vacancy
3.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$26,015,960
Cap Rate 7%
$18,582,829
Cap Rate 9%
$14,453,311
Alternative Uses
Best Use
Retail
$18.58M
$16.26M – $21.68M
NOI $1,300,798 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$30.47M
$26.67M – $35.55M
NOI $2,133,242 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 53217, WI
30,559
Population
12,301
Households
2.5
Avg Household Size
42
Median Age
73%
College-Educated
97%
High-School Grad
14.1 sq mi
ZIP Area
2,167
Density / Sq Mi
$132,044
Median Household Income
$70,301
Median Earnings
$1,519
Median Rent
$426,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - Corporate-leased retail asset with long-term NNN structure and limited landlord responsibilities.
Where is this nnn property located?
The property is located at 5701 N Lydell Ave Glendale, WI.
What is the asking price?
The asking price for this property is $15,350,000.
What are key features of this property?
This property features: 128,512‑square‑foot Target retail property constructed in 1957; Corporate‑signed NNN lease with over 10 years of firm term remaining; 10 additional 5‑year extension options
