2234 Pr Ave Beloit, WI 53511-2622
Property profile & analytics
2234 Pr Ave, Beloit, WI 53511-2622
- Outlet malls
- 12,543 SF
- 1.03 lot acres
Property ID
US92-0616700
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
- AutoZone Auto Parts / Auto Parts Store
Property Details for 2234 Pr Ave
- Year built
- 1976
- Lot size
- 1.03 lot acres
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 12420655
- APU
- 12420655
Description
This exceptional investment opportunity presents a fee-simple ownership of a 7,749 square foot AutoZone located at 2234 Prairie Ave, Beloit, WI 53511. Built in 1976, this single-story building boasts a strong 9.9 years remaining on the lease, recently extended in 2023 with built-in rental increases, demonstrating the tenant's long-term commitment. The property generates a substantial NOI of $52,800, translating to a compelling 6.00% cap rate on an asking price of $880,000. The location within a dense retail corridor is a significant advantage, surrounded by national brands such as Walmart, Starbucks, and others, and in close proximity to Beloit Memorial Hospital (3,000 employees). Further enhancing the investment potential is the imminent development of a $405 million casino project featuring a hotel, slot machines, and table games, expected to significantly increase foot traffic and economic activity in the area. AutoZone's impressive financial performance, including a 37% increase in net sales since 2019 and a more than doubled stock price, underscores the tenant's stability and growth trajectory. This property offers a rare combination of a secure, long-term lease, a strong tenant with a proven track record, and a prime location poised for significant future growth, making it an ideal addition to any investment portfolio. The current rent is significantly lower than comparable ground leases for new AutoZone locations, providing additional value and potential for future rent increases.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $840,000
- ML approach
- $840,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $683,000
- AI Estimate
- $973,000
Market price range: $199k - $889kMarket price range: $369k - $1.36M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $560,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Beloit
- County
- Rock
- State
- Wisconsin
- Longitude
- -89.0126
- Latitude
- 42.5334
- CBSA code
- 27500
- CBSA name
- JANESVILLE, 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
2023
$12,154
$125,700
$633,400
$759,100
-
$0.00
$0.00
$863,400
