For Sale
$3,921,569

2678 108Th StWest Allis, WI 53227

High-yield, 15-year NNN ground lease.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a brand-new, 2,798 square foot Chase Bank located at 2678 S 108th St, West Allis, WI 53227. The property sits on a 0.88-acre lot and boasts a 15-year absolute NNN ground lease commencing November 30, 2023, and expiring November 30, 2038, with three five-year renewal options. The lease includes a corporate guarantee from Chase Bank and features a 10% rent increase every five years. The asking price is $3,921,569, representing a 5.10% cap rate and a $200,000 annual net operating income (NOI). The property benefits from excellent visibility at a signalized intersection with high traffic counts (184,000 vehicles per day) from combined roads, including Highway 100 and Interstate 41. Its strategic location adjacent to West Allis Center, a 232,57 square foot shopping center, and a renovated Target store, ensures high foot traffic and visibility. The surrounding area demonstrates strong demographics, with 259,840 residents, 112,418 households, and an average household income of $87,414 within a 5-mile radius. The property is also conveniently located seven miles from Downtown Milwaukee. This prime location is further enhanced by its proximity to numerous national tenants, including Walgreens, OfficeMax, Burger King, Chick-fil-A, Panda Express, Starbucks, Marshalls, HomeGoods, Kohl's, and Piggly Wiggly. The building was constructed in 2023. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.

Highlights

  • Brand new 15-year NNN ground lease with Chase Bank, expiring November 30, 2038, with three 5-year renewal options and a 10% rent increase every five years.
  • Zero landlord responsibilities.
  • 2,798 square foot building on a 0.88-acre lot, newly constructed in 2023.
  • Drive-thru location with excellent visibility at a signalized intersection, boasting 184,000 vehicles per day from combined roads including Highway 100 and Interstate 41.
  • Strong demographics: 259,840 residents, 112,418 households, and an $87,414 average household income within a 5-mile radius.
  • Adjacent to West Allis Center, a 232,57 square foot shopping center, and a renovated Target store, plus proximity to numerous national tenants including Walgreens, OfficeMax, Burger King, Chick-fil-A, Panda Express, Starbucks, Marshalls, HomeGoods, Kohl's, and Piggly Wiggly.

Property Details for 2678 108Th St

Property type
Retail properties, Banks
Square Feet
2,798 SF
Year Built
2023
Lot Size (sq. ft)
38,333 SF

Location Insight

City
West Allis
County
Milwaukee
State
Wisconsin
Latitude
42.9956571
Longitude
-88.0464982
2678 108Th St, West Allis, Wisconsin

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2678 108Th St
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