6926 University Ave Middleton, WI 53562
- Lifestyle centers
- 42,741 SF
- 2.72 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 6926 University Ave
- Year built
- 1965
- Lot size
- 2.72 lot acres
- Property size
- 42,741 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Parkwood Plaza, a 42,741 square foot, single-story shopping center in Middleton, Wisconsin, presents a compelling investment opportunity. Built in 1965 and renovated in 1993 and 2011, this 2.72-acre property boasts 100% occupancy with a diverse tenant mix including Domino's Pizza, Jimmy John's, The UPS Store, and Willy Street Co-Op, a popular local grocery chain. Willy Street Co-Op, occupying approximately 55% of the gross leasable area (GLA), recently extended its lease through 2037, demonstrating strong tenant commitment. Other tenants also show strong performance and lease longevity, with a weighted average tenant tenure exceeding 13.3 years and a weighted average lease term of 8.4 years. Located at the intersection of University Avenue and Park Street (31,100 vehicles per day), this center benefits from high visibility and accessibility within a densely populated area. The surrounding Middleton community, part of the Madison MSA, exhibits strong demographics, with average household incomes exceeding $142,400 and median home values over $495,000 within a 3-mile radius. The property's strategic location near the University of Wisconsin-Madison further enhances its appeal. Recent lease renewals and expansions underscore the center's desirability and the strength of its tenant base. This grocery-anchored retail center offers a stable income stream and significant potential for long-term growth in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Middleton
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.5013
- Latitude
- 43.0971
