5255 Hopkins St Milwaukee, WI 53209

Property Details for 5255 Hopkins St

Year built

1954

Lot size

3.33 lot acres

Property size

8,230 SF

Zone code

IO2

Property type

Warehouses

APN

192-9991-100

APU

1929991100

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.