Walgreens NNN Lease
812 N Main St, Lake Mills, WI 53551
For Sale
Contact for pricing
Walgreens NNN lease extended through 2038 with options.
Property Size14,844 SF
Price / SF$187.18
Days on Market249
Property Features for 812 N Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
CBRE - Madison
Listed By:
Brian Wolff · License WI 45380-90
(608) 513-9653
Source:
Crexi
Added: Mar 6
Changed: Nov 1
Last Checked: Nov 8 at 6:35AM
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
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Investment Insights
Based on property information with market context.
The Walgreens property benefits from its location at the hard corner of the signalized intersection of North Main Street and East Tyranena Park Road, with traffic counts of 11,300 and 6,700 vehicles per day, respectively. It is situated feet from the on-ramp to Interstate 94, which sees 40,800 vehicles per day and provides access to downtown Milwaukee, located 52.5 miles to the east. The absolute NNN lease, originally set to expire in 2034, has been extended through 2038 and includes approximately 12.3 years of primary term remaining, along with eleven 5-year options to renew. The property size is 14,844 square feet.
Key Highlights
- Absolute NNN lease extended through 2038, offering ±12.3 years of primary term remaining.
- Located at a hard corner, signalized intersection with high traffic volume (North Main Street: 11,300 VPD; East Tyranena Park Road: 6,700 VPD).
- Proximity to Interstate 94 on‑ramp (40,800 VPD) providing direct access to Milwaukee.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,623
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,892,460
$2.9M
Cap Rate 7%
$2,066,043
$2.1M
Cap Rate 9%
$1,606,922
$1.6M
Market Conditions
NOI Build-Up for 14,844 SF
Gross rent
$201.3K $13.56/SF
− Vacancy
−$8.5K −$0.57/SF
EGI
$192.8K $12.99/SF
− OpEx
−$48.2K −$3.25/SF
NOI
$144.6K $9.74/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,892,460
Cap Rate 7%
$2,066,043
Cap Rate 9%
$1,606,922
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,623 @ 7.0% cap · market cap 5.20%
Second Best
Retail
$2.05M
$1.79M – $2.39M
NOI $143,343 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$3.48M
$3.05M – $4.06M
NOI $243,893 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 53551, WI
8,920
Population
4,048
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
96%
High-School Grad
39.6 sq mi
ZIP Area
225
Density / Sq Mi
$89,841
Median Household Income
$53,503
Median Earnings
$1,089
Median Rent
$322,700
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Walgreens Pharmacy — 812 N Main St, Lake Mills, WI 53551
- COVID-19 Drive-Thru Testing at Walgreens — 812 N Main St, Lake Mills, WI 53551
- Edward B. Heimstreet, RPH — 812 n main st, lake mills, wi 53551
- Edward Heimstreet — 812 N Main St, Lake Mills, WI 535511117
- Heather Hunt — 812 N Main St, Lake Mills, WI 535511117
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens NNN lease extended through 2038 with options.
Where is this drug store located?
The property is located at 812 N Main St Lake Mills, WI.
What is the asking price?
The asking price for this property is $2,778,570.
What are key features of this property?
This property features: Absolute NNN lease extended through 2038, offering ±12.3 years of primary term remaining.; Located at a hard corner, signalized intersection with high traffic volume (North Main Street: 11,300 VPD; East Tyranena Park Road: 6,700 VPD).; Proximity to Interstate 94 on‑ramp (40,800 VPD) providing direct access to Milwaukee.
