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    1717 Milton Ave Janesville, WI 53545

    For Sale
    $3,965,000

    High-yield NNN Walgreens, 14.5 years left

    Property size:
    13,905 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional investment opportunity presents a fee-simple interest in a Walgreens located at 1717 Milton Ave, Janesville, WI 53545. The property boasts a 13,905 square foot freestanding building situated on a substantial 1.44-acre lot, complete with ample parking and a convenient drive-thru. Built in 1998, this single-tenant property benefits from a strong 100% occupancy rate under a Net Lease (NNN) agreement with Walgreens, a nationally recognized brand. The current lease, commenced June 1st, 1998, has a remaining term of approximately 14.5 years, with seven 5-year renewal options. The lease was recently extended, signifying Walgreens' commitment to this successful location. The property generates a substantial Net Operating Income (NOI) of $277,405, resulting in an attractive 7.00% capitalization rate. The asking price is $3,965,000, translating to a price per square foot of $285.15. This investment offers a highly passive income stream with minimal landlord responsibilities, making it an ideal addition to any portfolio. The property's prime location on a signalized corner ensures excellent visibility and accessibility within a dense retail trade area characterized by strong demographics. This Walgreens location consistently exceeds national sales averages.

    Property Features for 1717 Milton Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,905 SF
    Lot Size
    62,726 SF

    Building Details

    Year Built
    1998
    Buildings
    1

    HighLights

    • 15‑Year NNN Lease Extension Recently Executed.
    • National‑Average‑Exceeding Sales, Established Tenant with Long‑Term Lease.
    • High‑Visibility Corner Lot with Excellent Access & Traffic Signal.
    • Densely Populated Retail Trade Area.
    • Strong Demographics.
    • Large Site Featuring Drive‑Thru Pharmacy & Abundant Parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Drug Store Sheila Williams, PharmD Pharmacy Lori Olson, PharmD Pharmacy Connie M. Nelson, ... Pharmacy Walgreens Pharmacy Pharmacy

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Janesville
    County
    Rock
    State
    Wisconsin
    Longitude
    -89.0072317
    Latitude
    42.7048821

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NNN Walgreens, 14.5 years left
    Where is this individual retail property located?
    The property is located at 1717 Milton Ave Janesville, WI.
    What is the asking price?
    The asking price for this property is $3,965,000.
    What are key features of this property?
    This property features: 15-Year NNN Lease Extension Recently Executed.; National-Average-Exceeding Sales, Established Tenant with Long-Term Lease.; High-Visibility Corner Lot with Excellent Access & Traffic Signal.
    Request Owner's contact information
    1717 Milton Ave Janesville, WI 53545
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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
    1717 Milton Ave Janesville, WI 53545
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