For Sale
$5,100,000

1519 Metro DrSchofield, WI 54476

Prime retail center, high NOI, strong tenant mix.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 41,221 square foot shopping center, located at 1519 & 1521 Metro Dr (aka 1699 Schofield Ave.) in Schofield, Wisconsin, presents a compelling investment opportunity. Built in 1995 and extensively renovated between 2015 and 2020, the property boasts four buildings situated on over five prime acres in a high-traffic area. Currently operating at 70% occupancy, the center generates a net operating income exceeding $325,000, representing a 7.35% capitalization rate. A strong tenant roster includes Charter Media, Haven Transport, Little Caesar's, and the D.C. Everest School District, providing a stable income stream. Vacant suites of varying sizes offer significant upside potential, allowing for increased occupancy and a projected pro forma cap rate exceeding 11%. The property's prime corner lot location within Schofield's busiest section further enhances its desirability. The property's APN is 281-2808-182-1077. The asking price is $5,100,000, with a price per square foot of $123.72. This modified-lease, multi-tenancy retail property offers a rare blend of established income and growth potential.

Highlights

  • $5,100,000 asking price for this 41,221 square foot retail shopping center.
  • Located at 1519 & 1521 Metro Dr (aka 1699 Schofield Ave.), Schofield, WI 54476.
  • Features four buildings on a prime corner lot in a busy section of Schofield, Wisconsin.
  • 70% occupancy with a 7.35% cap rate; pro forma cap rate exceeds 11% at full occupancy.
  • Built in 1995 with renovations between 2015 and 2020; over $325,000 Net Operating Income (NOI).
  • Multi-tenant property with a mix of long-term tenants including Charter Media, Haven Transport, Little Caesar's, and the D.C. Everest School District.

Property Details for 1519 Metro Dr

Property type
Lifestyle centers, Power centers
Square Feet
41,221 SF
Year Built/Renovated
1995/2015
Buildings
4

Location Insight

City
Schofield
County
Marathon
State
Wisconsin
Latitude
44.909215541008
Longitude
-89.60316693171
1519 Metro Dr, Schofield, Wisconsin

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1519 Metro Dr
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