W62n190 Washington Ave, Cedarburg, WI 53012

Property Details for W62n190 Washington Ave

Year built

2010

Lot size

1.57 lot acres

Property type

Retail properties & Spaces

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