2230 Main St Green Bay, WI 54302

Property Details for 2230 Main St

Construction

WOOD

Lot size

1.00 lot acres

Property size

1,975 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

21 457-6

APU

214576

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,025-square-foot, three-tenant retail strip center in Green Bay, Wisconsin. The property, constructed in 2018, boasts a prime location on a one-acre lot at a four-way signalized intersection, ensuring high visibility and accessibility. Currently 100% occupied since March 31, 2018, the center features a diverse tenant mix including Starbucks (with a drive-thru), US Cellular, and ATI Physical Therapy. All tenants operate under NNN leases, providing a passive income stream for the owner. Starbucks' lease includes a corporate guarantee, and the US Cellular lease, encompassing 19 units, also offers a corporate guarantee. The leases offer a remaining term of approximately 3.4 years, with lease expirations in March 2028, except for US Cellular, which has notified of intent to vacate on July 1, 2026, or earlier, fulfilling lease obligations until that date. The property's strong performance is evidenced by Starbucks' exceeding 251,000 customer visits in the past year. The asking price is $2,932,000, representing a 6.00% cap rate and a net operating income (NOI) of $175,932. The property is zoned commercial and offers lease options. This presents a compelling opportunity for investors seeking a stabilized, NNN retail investment with strong tenant credit and significant upside potential. The low rents offer potential for future increases. The property's location in Green Bay, Wisconsin, provides access to a robust market.