1041 Main St Whitewater, WI 53190-1616

Property Details for 1041 Main St

Lot size

1.16 lot acres

Property type

Commercial real estate

APN

/A 43800001

APU

A43800001

Description

This exceptional investment opportunity presents a 15,123-square-foot Walgreens located at 1041 W Main St, Whitewater, WI 53190. The property sits on a 1.04-acre lot and boasts 25 parking spaces, ensuring ample customer convenience. Built in 2000, this single-tenant, net-leased (NNN) property offers a substantial 14-year remaining lease term, expiring November 30, 2038. The lease includes twelve 5-year options with attractive 5% rent increases every five years and in each option period. The current asking price is $3,600,714, representing a compelling $238.10 per square foot and a 6.30% cap rate, with a current Net Operating Income (NOI) of $226,845. The property benefits from its prime location on West Main Street (9,800 vehicles per day), near other major retailers including Walmart, Ace Hardware, and various automotive dealerships. Its proximity to the University of Wisconsin-Whitewater (11,000+ students) provides a significant built-in customer base, further enhanced by over 3,300 households within a one-mile radius. This Walgreens enjoys excellent visibility and accessibility, making it an ideal investment for long-term growth and stable returns. The property is situated in a thriving retail corridor, surrounded by a variety of popular restaurants and businesses. This is a rare opportunity to acquire a high-performing, net-leased Walgreens with a long-term lease and significant upside potential.

Location Insight

City

Whitewater

County

Walworth

State

Wisconsin

Longitude

-88.7486

Latitude

42.8344

CBSA code

48580

CBSA name

WHITEWATER, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments