W62n190 Washington Ave Cedarburg, WI 53012

Property Details for W62n190 Washington Ave

Year built

2010

Lot size

1.57 lot acres

Property size

14,550 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 14,550 square foot Walgreens, situated on a 1.57-acre lot at W62N190 Washington Ave, Cedarburg, WI 53012. Built in 2010, this single-story building boasts a 100% occupancy rate under an absolute triple-net (NNN) lease with approximately 10.3 years remaining until the lease expires on February 28, 2035. The lease commenced February 13, 2010, and features a strong, credit-rated tenant, Walgreens. The property generates a substantial net operating income (NOI) of $407,000 annually, resulting in a compelling 7.24% cap rate at an asking price of $5,625,000. This prime retail location benefits from high visibility on Washington Avenue, a major thoroughfare in Cedarburg. The area demonstrates strong demographics, with an average household income exceeding $137,527 within a 5-mile radius. Proximity to Concordia University Wisconsin, Cedarburg High School, and other national retailers further enhances the property's value and potential for long-term growth. This is a rare opportunity to acquire a secure, high-performing asset with a proven track record in a desirable location. The property's strong tenant, favorable lease terms, and robust financial performance make it an attractive investment for discerning buyers. The property is not subject to a ground lease.

Location Insight

City

Cedarburg

County

Ozaukee

State

Wisconsin

Longitude

-87.9868

Latitude

43.283