1717 Milton Ave Janesville, WI 53545

Property Details for 1717 Milton Ave

Year built

1997

Lot size

1.44 lot acres

Property size

13,905 SF

Zone code

B3

Property type

Commercial real estate

APN

219400003

APU

219400003

Description

This exceptional investment opportunity presents a fee-simple interest in a Walgreens located at 1717 Milton Ave, Janesville, WI 53545. The property boasts a 13,905 square foot freestanding building situated on a substantial 1.44-acre lot, complete with ample parking and a convenient drive-thru. Built in 1998, this single-tenant property benefits from a strong 100% occupancy rate under a Net Lease (NNN) agreement with Walgreens, a nationally recognized brand. The current lease, commenced June 1st, 1998, has a remaining term of approximately 14.5 years, with seven 5-year renewal options. The lease was recently extended, signifying Walgreens' commitment to this successful location. The property generates a substantial Net Operating Income (NOI) of $277,405, resulting in an attractive 7.00% capitalization rate. The asking price is $3,965,000, translating to a price per square foot of $285.15. This investment offers a highly passive income stream with minimal landlord responsibilities, making it an ideal addition to any portfolio. The property's prime location on a signalized corner ensures excellent visibility and accessibility within a dense retail trade area characterized by strong demographics. This Walgreens location consistently exceeds national sales averages.

Location Insight

City

Janesville

County

Rock

State

Wisconsin

Longitude

-89.0071

Latitude

42.7049

CBSA code

27500

CBSA name

JANESVILLE, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments