147 Westend Cir Verona, WI 53593
- Retail properties
- 2,200 SF
- 1.60 lot acres
Current Use by Public Records
- Starbucks / Coffee Store / Espresso Bar
Property Details for 147 Westend Cir
- Year built
- 2022
- Lot size
- 1.60 lot acres
- Property size
- 2,200 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, triple-net-leased (NNN) Starbucks located at 147 West End Cir, Verona, WI 53593. The 2,200 square foot building, constructed in 2022, sits on a 1.6-acre lot and boasts a 15-year roof warranty. The property enjoys a 100% occupancy rate with a remaining lease term of 8.3 years (expiring February 28, 2033), commencing September 29, 2022. The lease includes rent bumps. The tenant, Starbucks, is credit-rated and backed by a corporate guarantee, providing significant security for investors. The property's strong performance is reflected in its $135,000 net operating income (NOI) and a 5.25% cap rate. The asking price is $2,571,000, translating to a price per square foot of $1,169. This prime location directly across from Verona Area High School (1,700+ students) and 1.5 miles from the expansive Epic Systems campus ensures consistent high traffic and strong sales. Verona's status as one of Wisconsin's fastest-growing cities, within the desirable Madison MSA, further enhances the long-term growth potential of this investment. This Starbucks is ranked in the top 24% of Wisconsin locations and the top 27% nationwide, holding the #2 position within its trade area. This offering presents a rare chance to acquire a high-performing, corporate-leased asset in a thriving market with substantial upside. The property is classified as Class A retail, with a single tenancy.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Verona
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.5526
- Latitude
- 42.9874
