5077 27th St Greenfield, WI 53221-3401

Property Details for 5077 27th St

Lot size

1.91 lot acres

Property type

Commercial real estate

APN

622-9944-002

APU

6229944002

Description

This exceptional investment opportunity presents the chance to acquire a fee-simple interest in a 7,050 square foot retail property located at 5077 S 27th St, Greenfield, Wisconsin. The property, built in 2004 and situated on a 1.91-acre lot, is fully occupied by a Famous Dave's BBQ restaurant under a triple-net (NNN) lease extending through May 2029. The tenant, a subsidiary of MTY Food Group, recently exercised a five-year lease extension, demonstrating strong commitment to this location. The property boasts a 7.88% cap rate and a substantial net operating income (NOI) of $157,560, representing a robust year-to-date rent-to-sales ratio of less than 7% and annual sales exceeding $500 per square foot. Located in a high-traffic area with over 30,800 cars passing daily, the property benefits from excellent visibility and proximity to numerous national retailers including Dollar Tree, Walgreens, AtHome, Arby's, Subway, and Mister Car Wash. The property is zoned C2, Community Commercial, and enjoys a prime location less than 15 minutes from Downtown Milwaukee, serving a population exceeding 108,000 within a three-mile radius, with average household incomes surpassing $88,000. The NNN lease includes a 1% annual rent increase throughout the renewal option period, providing a stable and appreciating investment. This offering presents a passive investment opportunity with consistent cash flow and a committed tenant. The asking price is $2,000,000.