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Property profile & analytics
FOR SALE
Drug stores

2222 W Capitol Dr Milwaukee, WI 53209

14,390 SF 1.64 ac lot Built 1998
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US92-0686054
Property summary
AI-generated overview

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 profile
Verified
Property type Drug stores
Use group DRUG STORE, PHARMACY
Year built 1998
Total area 14,390 SF
Lot 1.64 ac (71,613 SF)
Zoning code LB2
APN 245-0216-110
UPID US92-0686054
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • COVID-19 Drive-thru Testing at Walgreens Pharmacy
  • FedEx OnSite Postal Service Courier Service
  • Western Union Bank Credit Union
  • Bitcoin Depot | BDCheckout Atm
  • LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.32M
Comparable Approach Comparable
$2.65M
Blend (final) Blend
$2.41M
Owner & transaction history
Scoros Management LLC · 7 yrs held
Scoros Management LLC
since 2019
4 recorded transactions
2021
Price N/A
2019
$3.9M
2016
$4.2M
2004
$1.8M
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

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…

Zone name Local Business Districts
General category COMMERCIAL
Source Master V2
Top alternative use upside
Restaurant $1.8M +18.2%
Auto repair, garage $1.7M +10.8%
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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