For Sale
$2,617,000

519 Madison StChilton, WI 53014

Wisconsin Retail Property: Strong Tenant, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 36,962-square-foot Tractor Supply store in Chilton, Wisconsin. Built in 2023, this property boasts a new 10-year net lease (NN) with a corporate guarantee from Tractor Supply Company, a Fortune 500 company with an S&P investment-grade credit rating. The lease commenced February 27, 2022, and has approximately 8.4 years remaining, with 5% rent increases built into the lease and option periods. The current annual net operating income (NOI) is $174,000, resulting in a 6.65% cap rate on the $2,617,000 asking price. The property sits on a 3.79-acre lot at 519 N Madison St, Chilton, WI 53014, conveniently located 35 miles south of Green Bay on a high-traffic highway (9,200 vehicles per day). The tenant is responsible for taxes, CAM, insurance, and HVAC, while the landlord maintains the roof, structure, and parking lot (recently repaved). Chilton's robust economy, fueled by 14 manufacturing facilities within a two-mile radius and a growing employment rate, makes this a compelling investment. The property benefits from its proximity to Green Bay, Wisconsin's third-largest city, known for its significant paper industry and the Green Bay Packers. This combination of a strong tenant, favorable lease terms, and a thriving local economy offers a secure and potentially high-return investment.

Highlights

  • Low rent of $174,000, a lower price point than most comparable Tractor Supply properties.
  • Investment-grade tenant: Tractor Supply Co. (NYSE: TSCO), a Fortune 500 company with an S&P BBB rating.
  • Newly renovated 36,962 SF Tractor Supply; 9 years remaining on a 10-year corporate guaranteed NNN lease with 10% rent increases in each of four 5-year option periods. Landlord responsible for roof, structure, and parking lot.
  • Located in Chilton, WI, 35 miles south of Green Bay (3rd most populous city in Wisconsin), a strong regional market with significant employment in manufacturing and related industries.
  • Chilton has 14 manufacturing facilities within a 2-mile radius, supporting over 700 jobs, and experienced 4.34% employment growth from 2020 to 2021.

Property Details for 519 Madison St

Property type
Retail properties, Grocery and convenience stores
Square Feet
36,962 SF
Year Built
2023
Lot Size (sq. ft)
165,092 SF

Location Insight

City
Chilton
County
Calumet
State
Wisconsin
Latitude
44.0360072
Longitude
-88.1635746
519 Madison St, Chilton, Wisconsin

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519 Madison St
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