1589 Sumner St Hartford, WI 53027

Property Details for 1589 Sumner St

Year built

2013

Property size

16,399 SF

Property type

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 16,399-square-foot freestanding Aldi grocery store located at 1589 E Sumner St, Hartford, WI 53027. The property is a single-tenant, net-leased (NNN) condo interest with a highly desirable Aldi tenant, a dominant brand in the grocery sector. The current lease, commencing December 1, 2013, and expiring August 31, 2030, has approximately 5.8 years remaining on the initial term, followed by four 5-year renewal options with a 5% rent increase every five years during those option periods. The property boasts a 7.00% cap rate and a strong net operating income (NOI) of $171,042. Built in 2013, this single-story building enjoys 100% occupancy and benefits from its prime location within the Hartford Centre, a major retail corridor with high visibility and traffic (22,900 vehicles per day). The property's strategic placement near other national retailers, including Starbucks, McDonald's, and multiple hotels, further enhances its value. An early lease extension option was exercised in 2019, demonstrating the tenant's long-term commitment. The asking price is $2,443,000, translating to $148.97 per square foot. This investment offers a compelling combination of a strong tenant, a long-term lease, and a prime location, making it an attractive addition to any portfolio. The property also includes an expansion option adding 2,709 square feet to the Aldi space. Data indicates significant foot traffic, with over 5,800 average weekly visits. The property is free and clear of debt.

Location Insight

City

Hartford

County

Washington

State

Wisconsin

Longitude

-88.3501157

Latitude

43.3166264

Property Visit Statistics

• Visits by month
  20.5k
• Visitors by month
  13.1k
• Avg Time on site
  22 min