1701 108th St West Allis, WI 53214-4024

Property Details for 1701 108th St

Lot size

2.01 lot acres

Property type

Commercial real estate

APN

448-9981-003

APU

4489981003

Description

This exceptional West Allis, WI retail center offers a compelling investment opportunity. The property, located at 1701 S 108th St, boasts 35,670 square feet on a 2.01-acre lot and features two national tenants: The Tile Shop and Allied Pools. Both tenants are under absolute NNN leases, providing significant expense recovery and minimizing landlord responsibilities. The Tile Shop's lease has 7.2 years remaining with a 5% rent increase every five years, while Allied Pools' lease has 7.2 years remaining with a 2% annual rent increase. The property enjoys a current NOI of $392,130 and a pro-forma NOI of $406,850, translating to a 7.75% cap rate. Built in 1974 and renovated in 2020, the center benefits from recent capital expenditures exceeding $200,000, including a new roof with a 20-year transferable warranty and a new parking lot—all tenant-reimbursed. The property's prime location on a major thoroughfare in West Allis (39,000+ vehicles per day), less than a mile from I-41 (141,000+ vehicles per day), and across from a grocery-anchored retail plaza, ensures high visibility and strong traffic. The asking price is $5,060,000, representing $141.86 per square foot. This investment offers a strong return, financial stability, and long-term growth potential. The corporate guarantees from both tenants provide additional security. The property is 100% occupied.

Location Insight

City

West Allis

County

Milwaukee

State

Wisconsin

Longitude

-88.0477

Latitude

43.0113

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments