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    3131 13Th St Milwaukee, WI 53215

    Sponsored
    For Sale
    $1,475,000

    High-yield, credit-rated bank lease.

    Property size:
    10,770 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 10,770 square foot, single-tenant retail property fully leased to a credit-rated BMO Harris Bank. Located at 3131 South 13th Street in Milwaukee, Wisconsin, this property boasts a strong 5.34% cap rate and a substantial net operating income (NOI) of $78,783. The absolute NNN lease, commencing January 28, 2022, and expiring January 27, 2034, offers a remaining lease term of approximately 9.2 years, with three five-year renewal options. Rent increases are structured as one percent (1%) plus the year-over-year CPI increase. The property, built in 1974 and scheduled for a refresh in 2025, sits on a 0.95-acre lot with 59 parking spaces and excellent visibility. The property features a two-lane drive-thru and benefits from a favorable LB2 (Local Business District) zoning. The tenant, BMO Harris Bank, a significant market share leader with over $52 million in total 2023 deposits and an 11.23% market share, holds an A+ (S&P) / A3 (Moody's) credit rating and boasts over $550 billion in assets. This investment offers a secure, long-term income stream with built-in rent growth, minimal landlord responsibilities, and an additional $1,375 annual income from a parking easement. The property's location on a main commercial thoroughfare ensures high visibility and accessibility. The asking price is $1,475,000, translating to a price per square foot of $136.95. The property's parcel number is 535-0525-112.

    Property Features for 3131 13Th St

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,770 SF
    Lot Size
    41,382 SF

    Building Details

    Year Built/Renovated
    1974/2025
    Stories
    1

    HighLights

    • 100% Leased to BMO Harris Bank, an A+ (S&P) / A3 (Moody's) rated tenant, under an absolute NNN lease with annual rent increases.
    • Approximately 9.2 years remaining on the initial lease term, expiring January 27, 2034, with three 5‑year renewal options.
    • Rent increases are 1% plus the year‑over‑year CPI increase; the 2/1/2024 increase was 4.35%.
    • No landlord responsibilities; additional $1,375 annual income from a parking easement.
    • BMO Harris Bank plans a complete branch refresh in 2025.
    • BMO Harris Bank holds over $52 million in 2023 deposits, representing an 11.23% market share.
    Property Profile Location Intelligence

    Current Use by Public Records

    BMO Harris Bank ... Mortgage Lender BMO Bank N.A ... Bank ATM (Harris Bank) Atm Bank of the West Bank

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market 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
    -87.9290712
    Latitude
    42.9874992

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, credit-rated bank lease.
    Where is this individual retail property located?
    The property is located at 3131 13Th St Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $1,475,000.
    What are key features of this property?
    This property features: 100% Leased to BMO Harris Bank, an A+ (S&P) / A3 (Moody's) rated tenant, under an absolute NNN lease with annual rent increases.; Approximately 9.2 years remaining on the initial lease term, expiring January 27, 2034, with three 5-year renewal options.; Rent increases are 1% plus the year-over-year CPI increase; the 2/1/2024 increase was 4.35%.
    Request Owner's contact information
    3131 13Th St Milwaukee, WI 53215
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    Milwaukee, WI 53215
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    Realmo Value Estimation

    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.

    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.

    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
    3131 13Th St Milwaukee, WI 53215
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