2222 W Capitol Dr Milwaukee, WI 53209
For Sale
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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.
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RT4, RT5, RM5, RM6, RM7, RO2, NS2, LB2, LB3, RB2, CS, C9A, IM 2:3 * Note: In RM6, RM7, C9A and IM districts, a private elderly housing project shall have one parking space for every 2 dwelling units; in other zoning districts, a private elderly housing project shall have 2 parking spaces for every 3 dwelling units. Public housing for low-income families and…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
LB2 · Milwaukee, WIRT4, RT5, RM5, RM6, RM7, RO2, NS2, LB2, LB3, RB2, CS, C9A, IM 2:3 * Note: In RM6, RM7, C9A and IM districts, a private elderly housing project shall have one parking space for every 2 dwelling units; in other zoning districts, a private elderly housing project shall have 2 parking spaces for every 3 dwelling units. Public housing for low-income families and public or federally-assisted low-income elderly housing projects shall provide one parking space for every 2 dwelling units. Permanent supportive housing one for every 5 dwelling units Transitional housing one for every 5 dwelling units Attached single-family dwelling no min.; max. of 4 spaces Live-work unit one for each live/work unit in the building Mobile home N.A. Watchman/service quarters none Family day care home see requirement for dwelling unit type Accessory dwelling unit none 295-403-2-a Zoning 7/15/2025 -724- Table 295-403-2-a NUMBER OF PARKING SPACES REQUIRED, BY USE Uses No. of Parking Spaces Required GROUP RESIDENTIAL USES Rooming house one for every 2 rooms Convent, rectory or monastery one per facility Dormitory one for every 15 beds or fraction thereof Fraternity or sorority one for every 2 rooms Adult family home one Foster Homes Foster family home one Small foster home one Group home or group foster home one Shelter Care Facilities Family shelter care facility one Small group shelter care facility one Large group shelter care facility one Community living arrangement one EDUCATIONAL USES Day care center 2 (limited use) or as required by the board (special use) School, elementary or secondary none College none School, personal instruction none COMMUNITY-SERVING USES Library none Cultural institution none Community center as required by the board for special use approval Religious assembly one for every 6 seats in the assembly hall Cemetery or other place of interment none Public safety facility none Correctional facility none COMMERCIAL AND OFFICE USES General office one for each 500 sq. ft. of the first 2,000 sq. ft. of gross floor area; one for each 1,000 sq. of gross floor area in excess of 2,000 sq. ft.; storage or utility spaces shall not be included when calculating gross floor area Government office see general office Bank or other financial institution see general office Currency exchange, payday loan or title loan agency see general retail establishment Installment loan agency see general retail establishment Cash-for-gold business see general retail establishment Pawn shop see general retail establishment Retail establishment, general min. of one for each 1,000 sq. ft.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.