5255 Hopkins St, Milwaukee, WI 53209
- Warehouses
- 8,230 SF
- 3.33 lot acres
Current Use by Public Records
- Merchants Metals / Building Supply / Big Box & Wholesale Store
Property Details for 5255 Hopkins St
- Year built
- 1954
- Lot size
- 3.33 lot acres
- Zone code
- IO2
- Property type
- Warehouses
- APN
- 192-9991-100
- APU
- 1929991100
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 24, 2023 | $450,000 | 5255 N Hopkins St LLC | M P Systems INC | Warranty Deed | $297k · Town Bank |
Description
This exceptional investment opportunity presents a meticulously maintained 8,200 square foot warehouse situated on a 3.33-acre lot in Milwaukee, Wisconsin. The property boasts a strong 10.2-year Net Net Net (NNN) lease with Merchants Metals, a national leader in fencing products, backed by a corporate guarantee from Fencing Supply Group Holdings LLC, a portfolio company of The Sterling Group with $5.9B in assets under management. The lease commenced June 1, 2023, and includes two 5-year renewal options at fair market value, ensuring long-term stability. The tenant recently completed over $400,000 in renovations, demonstrating their commitment to the location. The property features five grade-level doors, ample outdoor storage space, and a desirable location with convenient access to major highways (I-43 & I-41), offering easy connectivity to downtown Milwaukee and a robust logistics network. The lease includes a favorable 3% annual rent increase, providing a hedge against inflation. The asking price is $1,675,000, representing a 6.70% cap rate and a price per square foot of $204.27. The property's location within a dense industrial corridor and its substantial improvements make it an ideal 1031 exchange opportunity. Built in 1959 and renovated in 2023, this asset offers a compelling combination of strong tenancy, significant upside potential, and a prime location within the Milwaukee MSA. The property's APN is 192-9991-100.
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Location Insight
- Map
- Local Demand
- City
- Milwaukee
- County
- Milwaukee
- State
- Wisconsin
- Longitude
- -87.9649
- Latitude
- 43.1133
- CBSA code
- 33340
- CBSA name
- MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA
