1507 Sunset Dr Waukesha, WI 53189-8262

Property Details for 1507 Sunset Dr

Year built

1990

Lot size

2.39 lot acres

Property size

13,496 SF

Zone code

B-4

Property type

Office buildings

APN

WAKC1349032

APU

WAKC1349032

Description

This exceptional investment opportunity presents a fully leased, 14,200 square foot Class B office building situated on a 2.3-acre lot in Waukesha, Wisconsin. Located at 1507 E. Sunset Drive, this single-story building boasts 80 parking spaces and benefits from a high-traffic corner location on Les Paul Parkway (Highway 164), with over 21,000 vehicles passing daily, providing excellent signage visibility. Built in 1990, the property features seven units with a diverse tenant mix including medical, financial, and professional services businesses, ensuring a stable income stream. The current occupancy is 100%, generating a Net Operating Income (NOI) of $227,686 and an 8.76% cap rate. The asking price is $2,600,000, translating to $183.10 per square foot. The property is zoned B-1 and offers a gross lease structure with built-in rent bumps ranging from 3% to 5%, providing future income growth potential. This fee-simple ownership opportunity presents a compelling investment in a thriving Waukesha location. The property's strong tenant base, including established businesses like a family dentistry practice, Edward Jones, and First Weber, contributes to its exceptional stability and long-term value. This is a stabilized investment asset with a proven track record of success.

Location Insight

City

Waukesha

County

Waukesha

State

Wisconsin

Longitude

-88.2092

Latitude

42.9857

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments