3131 Kinnickinnic Ave Milwaukee, WI 53207
- Retail properties
- 1,710 SF
- 0.36 lot acres
Current Use by Public Records
- Pizza Hut / Pizza Takeout / Pizza Delivery
Property Details for 3131 Kinnickinnic Ave
- Year built
- 1977
- Lot size
- 0.36 lot acres
- Property size
- 1,710 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This fee-simple ownership opportunity presents a 1,710 square foot Pizza Hut in Milwaukee, Wisconsin. The property boasts a new 15-year absolute NNN lease with three 5-year options, featuring 10% rent increases every five years and at the start of each option period. Located on S Kinnickinnic Ave, near E Oklahoma Ave, this high-visibility site benefits from significant traffic (23,300 vehicles daily) and proximity to State Highway 794. The property includes 27 parking spaces and sits on a 0.36-acre lot, zoned Local Business District (LB2). Built in 1977, the property offers a 6.50% cap rate and a current NOI of $82,200, with 100% occupancy. The asking price is $1,265,000 ($739.77/sq ft). The franchisee, a 38-unit operator, demonstrates a strong commitment to the location. Limited competition within a 2.8-mile radius and a strong demographic profile (270,000+ residents and 182,000 daytime employees within a 5-mile radius, with an average household income of $78,820) further enhance the investment potential. The property's APN is 540-0893-100. This is a management-free investment opportunity with significant long-term growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milwaukee
- County
- Milwaukee
- State
- Wisconsin
- Longitude
- -87.8833
- Latitude
- 42.9874
