2230 Main St, Green Bay, WI 54302
- Strip malls
- 1,975 SF
- 1.00 lot acres
Current Use by Public Records
- Starbucks / Cafe & Coffee Shop
- ATI Physical Therapy / Medical Clinic
- UScellular Authorized Agent - Cell.Plus, Green Bay Main / Mobile Phone Store / Electronics & Wireless Store
Property Details for 2230 Main St
- Construction
- WOOD
- Lot size
- 1.00 lot acres
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 21 457-6
- APU
- 214576
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 21, 2018 | $2,700,000 | Weichman LLC | 2230 Main Street I LLC | Grant Deed | $1.6M · Woodtrust Bk NA |
| Jun 26, 2018 | $2,600,000 | 2230 Main Street 1 LLC | 2230 Main Street LLC | Warranty Deed | $2.1M · West Pointe Bank |
| Mar 5, 2018 | — | 2230 Main Street LLC | — | Trustees Deed · related | $321k · West Pointe Bk |
| Sep 23, 2016 | $435,000 | 2230 Main Street LLC | Rrg Gb Main LLC | Warranty Deed | $1.6M · West Point Bank |
| — | — | Rrg Gb Main LLC | — | Deed Of Trust · related | $2.6M · Bank First National |
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.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Green Bay
- County
- Brown
- State
- Wisconsin
- Longitude
- -87.9719
- Latitude
- 44.4846
- CBSA code
- 24580
- CBSA name
- GREEN BAY, WI METROPOLITAN STATISTICAL AREA
