311 Hampton Ct Onalaska, WI 54650-6701

Property Details for 311 Hampton Ct

Lot size

1.81 lot acres

Property type

Commercial real estate

APN

018-004766-003

APU

18004766003

Description

This exceptional investment opportunity presents a 6,320-square-foot Outback Steakhouse located at 311 Hampton Ct, Onalaska, WI 54650. The property sits on a 1.81-acre lot and boasts 123 parking spaces. Built in 2000, this single-tenant, absolute NNN leased property features a credit-rated corporate guarantee from Bloomin' Brands, ensuring strong tenant performance. The lease has approximately 12.4 years remaining until the initial expiration date of February 28, 2037, with three 5-year renewal options. The lease includes attractive annual rent increases of 1.8%, providing consistent income growth. The property enjoys exceptional visibility and accessibility, situated along Hampton Court, near major roadways including Midwest Drive, East Main Street, US-16, and I-90. It benefits from a strategic location near a multitude of national retailers, hotels, and medical facilities, including the Mayo Clinic Health System. The surrounding area demonstrates strong demographics, with a population of 21,627 and an average household income of $103,234 within a 3-mile radius. The property's current Net Operating Income (NOI) is $149,943, representing a 6.50% cap rate at an asking price of $2,306,800 ($365 per square foot). This offering presents a compelling combination of strong tenant credit, long-term lease stability, and a prime location within a thriving retail corridor. The property's proximity to major employers and a high-density residential area further enhances its investment appeal. This is a rare opportunity to acquire a high-performing, passively managed investment property with significant upside potential.