Current Use by Public Records
- Retail properties & Spaces
Property Details for N65W25055 Main St
- Year built
- 2005
- Lot size
- 2.52 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple interest in a 14,560 square foot Walgreens located in Sussex, Wisconsin. The property, built in 2005, sits on a 2.52-acre lot and features a drive-thru pharmacy and ample parking. A recent 12-year lease extension ensures a long-term, stable income stream, extending the lease to May 31, 2036. The current lease is a triple-net (NNN) agreement with a credit-rated tenant, minimizing landlord responsibilities. The property boasts a 7.00% cap rate and a strong net operating income (NOI) of $308,700. The Walgreens location benefits from excellent accessibility, situated on a signalized corner, and is an outparcel to a Kohl's store. The property's strong performance is further evidenced by reported 2023 sales exceeding $3.26 million. The lease includes 11 five-year renewal options, providing significant long-term value and security for the investor. This is a prime retail investment with a highly desirable tenant and a proven track record of success. The property's location within a strong demographic area contributes to its continued profitability and makes it an attractive addition to any portfolio. The asking price is $4,410,000, representing a price per square foot of $302.88. The property is 100% occupied since its opening on May 1, 2005.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sussex
- County
- Waukesha
- State
- Wisconsin
- Longitude
- -88.245
- Latitude
- 43.1369
