11270 Prt Washington Rd Mequon, WI 53092-3410

Property Details for 11270 Prt Washington Rd

Lot size

2.22 lot acres

Property type

Commercial real estate

APN

15-020-11-011.00

APU

150201101100

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving Walgreens located at 11270 N Port Washington Rd, Mequon, WI 53092. The property boasts a 13,905 square foot freestanding building situated on a 2.22-acre lot. The Walgreens tenant operates under a triple-net (NNN) lease with significant remaining term – approximately 11.7 years, extending to July 31, 2036, following a recent 12-year extension. This demonstrates a strong commitment to the location's continued success. The lease includes four 5-year renewal options, providing long-term stability and predictable cash flow. The property enjoys a 100% occupancy rate since its opening on June 1, 2003, and generates a substantial net operating income (NOI) of $305,215, representing a 7.00% cap rate. The asking price is $4,360,000, translating to a price per square foot of $313.56. This prime retail location benefits from excellent visibility and accessibility along a major thoroughfare, serving an affluent demographic in a strong retail corridor. The property features a drive-thru pharmacy and ample parking. The property's parcel number (APN) is 150-2011-01100. This is a truly passive investment asset with a proven track record of success and significant long-term potential.