2678 South 108th Street West Allis, WI 53227

Property Details for 2678 South 108th Street

Lot size

0.70 lot acres

Property type

Commercial real estate

APN

485-9990-009

APU

4859990009

Description

This exceptional investment opportunity presents a brand-new, 2,798 square foot Chase Bank located at 2678 S 108th St, West Allis, WI 53227. The property sits on a 0.88-acre lot and boasts a 15-year absolute NNN ground lease commencing November 30, 2023, and expiring November 30, 2038, with three five-year renewal options. The lease includes a corporate guarantee from Chase Bank and features a 10% rent increase every five years. The asking price is $3,921,569, representing a 5.10% cap rate and a $200,000 annual net operating income (NOI). The property benefits from excellent visibility at a signalized intersection with high traffic counts (184,000 vehicles per day) from combined roads, including Highway 100 and Interstate 41. Its strategic location adjacent to West Allis Center, a 232,57 square foot shopping center, and a renovated Target store, ensures high foot traffic and visibility. The surrounding area demonstrates strong demographics, with 259,840 residents, 112,418 households, and an average household income of $87,414 within a 5-mile radius. The property is also conveniently located seven miles from Downtown Milwaukee. This prime location is further enhanced by its proximity to numerous national tenants, including Walgreens, OfficeMax, Burger King, Chick-fil-A, Panda Express, Starbucks, Marshalls, HomeGoods, Kohl's, and Piggly Wiggly. The building was constructed in 2023. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.