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2222 Capitol Dr Milwaukee, WI 53206

Sponsored
For Sale
$3,146,400

High-yield Walgreens, strong tenant, 3.2 years remaining.

Description

Added:
Dec 11, 2024
Days on Market:
391
This exceptional investment opportunity presents a 14,171 square foot Walgreens convenience store located at 2222 W Capitol Dr, Milwaukee, WI 53206. The property boasts a prime corner location with over 34,000 vehicles passing daily, ensuring high visibility and accessibility. Built in 1998, this retail space benefits from a 25-year lease with Walgreens, a Fortune 500 company, with approximately 3.2 years remaining. The current lease generates a substantial NOI of $275,310, representing an attractive 8.75% cap rate on the asking price of $3,146,400. The property is strategically positioned within a densely populated area, serving a community of over 850,000 residents within a 5-mile radius. Furthermore, its proximity to the University of Wisconsin-Milwaukee (UWM), with over 27,000 students, and numerous nearby residential developments and community centers, ensures a consistent customer base. The property's critical drive-thru lane adds significant value, capitalizing on the growing demand for convenient retail options. Walgreens' investment-grade credit rating (BBB-) provides exceptional financial security for this promising investment. This is a rare opportunity to acquire a high-performing retail asset in a thriving Milwaukee market.

Property Features for 2222 Capitol Dr

General Information

Property type
Individual retail properties

Building Details

Year Built
1998

HighLights

  • 14,171 SF Walgreens in Milwaukee, WI, offering an 8.75% cap rate on a $3,146,400 asking price and a $275,310 NOI.
  • Strong Milwaukee economy with growing population and high demand for retail.
  • Nearby developments include over 290 new residential units and a new athletic center, increasing tenant demand.
  • Proximity to University of Wisconsin‑Milwaukee (UWM) with over 27,000 students.
  • High‑visibility corner location with over 34,000 vehicles passing daily.
  • Serves a dense community of over 850,000 residents within a 5‑mile radius.
Property Profile Location Intelligence

Current Use by Public Records

COVID-19 Drive-thru Testing ... Pharmacy FedEx OnSite Mailing Service Western Union Money Transfer Service Bitcoin Depot | BDCheckout Atm LibertyX Bitcoin ATM Atm

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Milwaukee
County
Milwaukee
State
Wisconsin
Longitude
-87.9401755
Latitude
43.0899892

FAQs

What type of property is this?
Individual retail property - High-yield Walgreens, strong tenant, 3.2 years remaining.
Where is this individual retail property located?
The property is located at 2222 Capitol Dr Milwaukee, WI.
What is the asking price?
The asking price for this property is $3,146,400.
What are key features of this property?
This property features: 14,171 SF Walgreens in Milwaukee, WI, offering an 8.75% cap rate on a $3,146,400 asking price and a $275,310 NOI.; Strong Milwaukee economy with growing population and high demand for retail.; Nearby developments include over 290 new residential units and a new athletic center, increasing tenant demand.
More about this property
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