1701 108 St West Allis, WI 53214
NNN Lease, 7.75% Cap Rate, 2 Tenants
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 137
Highlights
- Prime West Allis location: High-traffic thoroughfare (39,000+ VPD), less than a mile from I-41 (141,000+ VPD), across from a grocery-anchored plaza.
- National tenants: The Tile Shop and Allied Pools, both with absolute NNN leases and corporate guarantees.
- Favorable lease terms: The Tile Shop lease has 7.2 years remaining with 5% rent increases every five years; Allied Pools has 7.2 years remaining with 2% annual rent increases.
- Strong financials: 7.75% cap rate, $392,130 current NOI, $406,850 pro-forma NOI. Priced at $141.86/SF.
- Recent capital improvements: Over $200,000 in tenant-reimbursed upgrades, including a new roof with a 20-year transferable warranty and new parking lot.
- Exceptional demographics: 280,000+ people within a 5-mile radius.
Property Details for 1701 108 St
- Property type
- Lifestyle centers, Power centers
- Square Feet
- 35,670 SF
- Year Built/Renovated
- 1974/2020
- Lot Size (sq. ft)
- 87,556 SF
- Units
- 2
Location Insight
- City
- West Allis
- County
- Milwaukee
- State
- Wisconsin
- Latitude
- 43.0113234
- Longitude
- -88.0478467
Nearby Similar for Sale
FAQs
- What type of property is this?
- Lifestyle center - NNN Lease, 7.75% Cap Rate, 2 Tenants
- Where is the lifestyle center located?
- The property is located at 1701 108 St West Allis, WI.
- What is the asking price?
- The asking price for this property is $5,060,000.
- What are key features of this property?
- This property features: Prime West Allis location: High-traffic thoroughfare (39,000+ VPD), less than a mile from I-41 (141,000+ VPD), across from a grocery-anchored plaza.; National tenants: The Tile Shop and Allied Pools, both with absolute NNN leases and corporate guarantees.; Favorable lease terms: The Tile Shop lease has 7.2 years remaining with 5% rent increases every five years; Allied Pools has 7.2 years remaining with 2% annual rent increases.
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