4934 Fond Du Lac Ave, Milwaukee, WI 53216

Property Details for 4934 Fond Du Lac Ave

Year built

2004

Lot size

0.79 lot acres

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a fee-simple, 7,000 square-foot auto parts store in Milwaukee, Wisconsin. The property, built in 2004, is situated on a 0.79-acre lot and boasts a 100% occupancy rate with a credit-rated, corporate-guaranteed lease with Advance Auto Parts. The current lease, an absolute NNN lease, has a remaining term of approximately 6.8 years, with two, five-year renewal options. The lease commenced October 6, 2004, and expires June 29, 2031, featuring a 10% rent increase every five years. The property generates a strong net operating income (NOI) of $76,296, resulting in a 7.15% cap rate. The location benefits from high visibility and traffic counts exceeding 90,700 vehicles daily at the intersection of HWY 190 and W Fond du Lac Ave. The property is strategically positioned within a three-mile radius of approximately 198,186 residents and a five-mile radius of approximately 432,270 residents. Advance Auto Parts, a nationally recognized and essential business, has demonstrated a long-term commitment to this location, recently extending their lease. The property is located approximately 4.7 miles from Downtown Milwaukee and near several national retailers including Walgreens, Foot Locker, Game Stop, and McDonald's. This is a rare opportunity to acquire a stable, high-performing investment property with a strong tenant and favorable lease terms. The asking price is $1,067,077.

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Longitude

-87.9749

Latitude

43.0892