10901 Lapham St West Allis, WI 53214
- Specialty properties
- 3,500 SF
- 1.88 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 10901 Lapham St
- Year built
- 2019
- Lot size
- 1.88 lot acres
- Property size
- 3,500 SF
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a fee-simple interest in a 3,500-square-foot, 100% occupied car wash located at 10901 W Lapham St, West Allis, WI 53214. The property boasts a 20-year absolute NNN lease commencing January 1, 2023, and expiring December 28, 2042, leaving 18.1 years remaining. The tenant is backed by a corporate guarantee, mitigating risk and ensuring consistent income. The property features a strong NOI of $312,120, translating to a 6.50% cap rate and a price per square foot of $1,372. The asking price is $4,802,000. Built in 2019 on a 1.88-acre lot, the car wash includes 38 parking spaces and benefits from a prime corner location in a thriving retail corridor with nearby freeways and large regional centers. Annual rent bumps of 2.00% commence in January 2029. The property is zoned commercial (APN 448-9979-015) and offers four lease options. Bonus depreciation is available. The strong demographics within a 5-mile radius and the presence of national/credit tenants in the vicinity further enhance the investment potential. This is a truly exceptional, low-maintenance investment with significant upside potential.
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
- West Allis
- County
- Milwaukee
- State
- Wisconsin
- Longitude
- -88.0481
- Latitude
- 43.0131
