2222 Capitol Dr Milwaukee, WI 53206
Property profile & analytics
2222 Capitol Dr Milwaukee, WI 53206
- Drug stores
- 14,390 SF
- 1.64 lot acres
Property ID
US92-0686054
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- COVID-19 Drive-thru Testing at Walgreens / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
- Western Union / Bank / Credit Union
- Bitcoin Depot | BDCheckout / Atm
- LibertyX Bitcoin ATM / Atm
Property Details for 2222 Capitol Dr
- Year built
- 1998
- Lot size
- 1.64 lot acres
- Property size
- 14,390 SF
- Zone code
- LB2
- Property type
- Drug stores
- APN
- 245-0216-110
- APU
- 2450216110
Description
This exceptional investment opportunity presents a 14,171 square foot Walgreens convenience store located at 2222 W Capitol Dr, Milwaukee, WI 53206. The property boasts a prime corner location with over 34,000 vehicles passing daily, ensuring high visibility and accessibility. Built in 1998, this retail space benefits from a 25-year lease with Walgreens, a Fortune 500 company, with approximately 3.2 years remaining. The current lease generates a substantial NOI of $275,310, representing an attractive 8.75% cap rate on the asking price of $3,146,400. The property is strategically positioned within a densely populated area, serving a community of over 850,000 residents within a 5-mile radius. Furthermore, its proximity to the University of Wisconsin-Milwaukee (UWM), with over 27,000 students, and numerous nearby residential developments and community centers, ensures a consistent customer base. The property's critical drive-thru lane adds significant value, capitalizing on the growing demand for convenient retail options. Walgreens' investment-grade credit rating (BBB-) provides exceptional financial security for this promising investment. This is a rare opportunity to acquire a high-performing retail asset in a thriving Milwaukee market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,515,000
- 6.5%
- $2,320,000
- 7%
- $2,155,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,653,000
- AI Estimate
- $2,244,000
Market price range: $702k - $2.65MMarket price range: $756k - $2.24M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,550,000 Current use
- RESTAURANT
- $1,830,000 Change: +18% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,715,000 Change: +11% Conversion: Difficult
- MEDICAL BUILDING
- $1,480,000 Change: -4% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Milwaukee
- County
- Milwaukee
- State
- Wisconsin
- Longitude
- -87.9399
- Latitude
- 43.0902
- CBSA code
- 33340
- CBSA name
- MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$65,530
$1,092,800
$1,659,400
$2,752,200
-
$1,092,800
$1,659,400
$2,752,200
