This exceptional investment opportunity presents a 6,400 square foot, three-tenant retail strip center in Milwaukee, Wisconsin, situated on a 0.3-acre lot with 13 parking spaces. The property boasts a prominent hard corner location on North Avenue, a high-traffic thoroughfare with 35,550 vehicles per day, ensuring excellent visibility and accessibility. The center is 100% occupied by a mix of national tenants including 7-Eleven, Starbucks, and Circle K, with 7-Eleven comprising approximately 80% of the total annual rent. All tenants operate under absolute NNN leases, providing a passive income stream with minimal landlord responsibilities. The property features a strong tenant credit profile, including a corporate guarantee and investment-grade credit rating for the anchor tenant. Leases have an average of five years remaining, with built-in annual rent bumps ranging from 1.5% to 5%, offering excellent protection against inflation. The property's location is strategically advantageous, situated directly across from McDonald's and within walking distance of the University of Wisconsin-Milwaukee (approximately 123,000 students), other national retailers (Whole Foods, Pick n Save, Anytime Fitness), Ascension Columbia St. Mary's Hospital, Riverside University High School, Lake Michigan, and numerous museums. The property's proximity to a dense population base (over 140,900 residents within a 3-mile radius) and Marquette University (approximately 11,373 students) further enhances its investment appeal. The property was renovated in 2010 and offers a strong NOI of $149,848, resulting in a 6.75% cap rate. The asking price is $2,220,000, translating to a price per square foot of $346.88. This is a Class B property with a multi-tenant occupancy.
Highlights
Investment-grade anchor tenant, 7-Eleven (S&P A rating, Stable outlook).
The property is located at 11609 North Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,220,000.
What are key features of this property?
This property features: Investment-grade anchor tenant, 7-Eleven (S&P A rating, Stable outlook).; Fully occupied, three-tenant strip center; 7-Eleven contributes nearly 80% of annual rent.; Triple-net (NNN) leases for all tenants.
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Contacts
Aron Cline
Matt Coates
Calvin Short
Gary Chou
Scott Reid
Visit Broker Website
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North Ave Milwaukee, WI 53202
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North Ave Milwaukee, WI 53202
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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11609 North Ave
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