2931 Fish Hatchery Rd, Fitchburg, WI 53711-6499
- Commercial real estate
- 1.73 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens / Cosmetic Store
- Walgreens Pharmacy / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
- Ryder Renee B / Physician
Property Details for 2931 Fish Hatchery Rd
- Lot size
- 1.73 lot acres
- Property type
- Commercial real estate
- APN
- 0609-091-8002-3
- APU
- 60909180023
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 16, 2025 | $3,400,000 | Fish Hatchery Road Property Group L | Mred Associates | Special Warranty Deed | $1.8M · American National Bank |
| Apr 16, 2020 | $15,600 | City Of Fitchburg | Mred Associates | Warranty Deed | — |
Description
This exceptional investment opportunity presents a fee-simple interest in a thriving Walgreens located at 2931 S Fish Hatchery Rd, Fitchburg, WI 53711. The property encompasses a 13,905 square foot freestanding building situated on a 1.725-acre lot. The Walgreens tenant operates under a triple-net (NNN) lease, minimizing landlord responsibilities and providing a passive income stream. The current lease boasts a remaining term of 14.7 years, with seven 5-year renewal options, extending the lease to July 31, 2039. The lease commenced April 1, 2004, and the property has maintained 100% occupancy since that date. The asking price is $3,675,000, representing a price per square foot of $264.29 and a 7.00% cap rate. The property generates a net operating income (NOI) of $257,242. This prime location benefits from excellent accessibility, a signalized corner location, and proximity to the University of Wisconsin-Madison, within a dense and affluent demographic area near a strong retail corridor. The property also features a drive-thru pharmacy. The Dane County property (APN: 0609-091-8002-3) offers a secure, long-term investment with a proven track record of success. This is a rare opportunity to acquire a high-performing Walgreens in a desirable location.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Fitchburg
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.4265
- Latitude
- 43.0152
- CBSA code
- 31540
- CBSA name
- MADISON, WI METROPOLITAN STATISTICAL AREA
