1201 Egg Hbr Rd Sturgeon Bay, WI 54235-1235

Property Details for 1201 Egg Hbr Rd

Lot size

0.76 lot acres

Property type

Commercial real estate

APN

281 6210000102B

APU

2816210000102B

Description

This exceptional investment opportunity presents a 2,500 square foot T-Mobile storefront in Sturgeon Bay, Wisconsin. Located on Egg Harbor Road, a major thoroughfare with high traffic volume, this property benefits from a prime location near prominent retailers such as Walmart, Tractor Supply, Kroger, CVS, McDonald's, Dunham's Sports, and T.J. Maxx. The building, renovated in 2022, sits on a 1.36-acre lot and enjoys 100% occupancy under a Net Lease agreement with a credit-rated tenant. The current lease, commencing May 1, 2022, and expiring April 30, 2032, has a remaining term of approximately 7.4 years, featuring 10% rent bumps every five years and three five-year renewal options. The annual net operating income (NOI) is $65,000, representing a 7.25% cap rate on the $896,552 asking price, or $358.62 per square foot. The property's strong location, coupled with a long-term lease from a financially stable tenant and built-in rent increases, makes this an attractive investment opportunity. The property's proximity to State Highway 42 (over 12,800 vehicles per day) and the Door County Fairgrounds (nearly 20,000 annual visitors) further enhances its appeal. The surrounding area boasts an average household income exceeding $91,349 within a five-mile radius, indicating a strong consumer base. This is a rare chance to acquire a stable, high-performing retail investment with significant upside potential.