1609 E North Ave - Freestanding FOR SALE


Milwaukee, WI 53202
$2,220,000 USD
818-632-0233
1609 E North Ave, Milwaukee, WI for Sale
$2,220,000 USD
Freestanding - FOR SALE
1/8
null | 6.75% Cap Rate

1609 E North Ave
Milwaukee, WI 53202


HIGHLIGHTS

  • Top-rated anchor tenant | 7-Eleven has an A, investment-grade credit rating (S&P; Stable outlook) which is stronger than a majority of retail tenants
  • 100% fully occupied, 3-tenant strip center | 7-Eleven accounts for nearly 80% of the total annual rent
  • All tenants operating under NNN leases
  • Hard corner location with excellent access and visibility from North Avenue which boasts 35,550 VPD
  • Superb hedges against inflation | All tenants have annual rent increases ranging from 1.5%-5% annually
  • Site is walking distance to University of Wisconsin-Milwaukee which has ±23,000 students

OVERVIEW

• Top-rated anchor tenant | 7-Eleven has an A, investment-grade credit rating (Standard and Poor’s; Stable outlook) which is stronger than a majority of national retail tenants • 100% fully occupied, 3-tenant strip center | 7-Eleven accounts for nearly 80% of the total annual rent • All tenants operating under NNN leases • Hard corner location with excellent access and visibility from North Avenue which boasts 35,550 VPD • Superb hedges against inflation | All tenants have annual rent increases ranging from 1.5%-5% annually • Average of about 5 years remaining on the various leases • Directly across the street from McDonald’s • Site is walking distance to: • University of Wisconsin-Milwaukee | ±23,000 students • National retail tenants such as Whole Foods, McDonald’s, Pick n Save, Anytime Fitness • Ascension Columbia St. Mary’s Hospital Milwaukee | 398-bed short term acute care hospital • Riverside University High School | 1,229 students • Lake Michigan • 6+ museums • About 3 miles from Marquette University | 11,373 students • Dense area | 140,900+ residents within a 3-mile radius • 7-Eleven is one of the nation’s largest independent gasoline retailers and has well over 70,000 stores worldwide throughout 18 countries

FOR SALE DETAILS

PRICE

$2,220,000 USD

PRICE/SF

$347 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven Strip Center | 1.5%-5% Annual Bumps

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1918

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,216 SF

ZONING

LB-2

APN/PARCEL ID

355-0448-100

ASK ABOUT THIS PROPERTY

Aron ClineBerkeley Capital AdvisorsMore Info
818-632-0233

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Aron ClineBerkeley Capital AdvisorsMore Info
818-632-0233

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.