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    6093 Mequon Rd Mequon, WI 53092

    Sponsored
    For Lease
    $18 SF/Yr

    74,377 SF Strip Center, Anchored by Piggly Wiggly

    Lot size:
    74,377 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    422
    River Centre, a 74,377 square foot single-story strip center in Mequon's Town Center, presents a compelling investment opportunity. Built in 1963 with an addition in the mid-1980s and extensively remodeled in 2016, this property boasts excellent visibility and accessibility, complemented by 323 parking spaces. Its strategic location at a busy intersection on Cedarburg Road ensures high traffic volume. The center is anchored by a Piggly Wiggly grocery store, which expanded in 2001, attracting significant foot traffic and providing a strong draw for other tenants. River Centre benefits from a diverse tenant mix and is surrounded by thriving new retail developments, restaurants, and residential areas, reflecting the affluent nature of the Mequon submarket. The property's single-tenant occupancy of 2,934 square feet offers flexibility for potential buyers. This prime retail location within a dynamic and growing community offers significant potential for long-term growth and return on investment. The property's recent renovations ensure modern amenities and functionality, making it an attractive option for both established businesses and new ventures. The ample parking further enhances the convenience and appeal of this exceptional retail property.

    Property Features for 6093 Mequon Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    74,377 SF
    Total Rate
    111565.5

    Building Details

    Year Built/Renovated
    1963/2016
    Stories
    1

    Spaces For Lease

    at 6093 Mequon Rd, Mequon, WI 53092 Contact us
    Unit

    $18 /Mo

    Size
    2,934 SF
    Contact us

    We can help!

    Listing Contact
    Lance Lichter

    Learn more

    HighLights

    • 74,377 SF single‑tenant retail building in Mequon's Town Center.
    • 2,934 SF retail space available.
    • Located at a busy intersection with excellent visibility and ample parking (323 spaces).
    • Anchored by Piggly Wiggly grocery store.
    • Built in 1963, remodeled in 2016.
    • Surrounded by new retail, restaurants, and housing in an affluent submarket.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mequon
    County
    Ozaukee
    State
    Wisconsin
    Longitude
    -87.98374763
    Latitude
    43.22071642

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    FAQs

    What type of property is this?
    Neighborhood center - 74,377 SF Strip Center, Anchored by Piggly Wiggly
    Where is this neighborhood center located?
    The property is located at 6093 Mequon Rd Mequon, WI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 74,377 SF single-tenant retail building in Mequon's Town Center.; 2,934 SF retail space available.; Located at a busy intersection with excellent visibility and ample parking (323 spaces).
    Request Owner's contact information
    6093 Mequon Rd Mequon, WI 53092
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    Mequon, WI 53092
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6093 Mequon Rd Mequon, WI 53092
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    Listing Contact
    Lance Lichter
    Real Estate License ID: 4165390
    Learn more
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