For Sale
$2,220,000

11609 North AveMilwaukee, WI 53202

High-yield, 100% occupied retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
115
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).
  • Fully occupied, three-tenant strip center; 7-Eleven contributes nearly 80% of annual rent.
  • Triple-net (NNN) leases for all tenants.
  • High-visibility hard corner location on North Avenue (35,550 VPD).
  • Built-in inflation hedge: annual rent increases of 1.5%–5%.
  • Average lease term remaining: approximately five years.

Property Details for 11609 North Ave

Property type
Retail properties, Restaurants
Square Feet
6,400 SF
Class
B
Year Renovated
2010
Buildings
1
Lot Size (sq. ft)
13,068 SF
Units
3

Location Insight

City
Milwaukee
County
Milwaukee
State
Wisconsin
Latitude
43.0601025
Longitude
-87.8955265
11609 North Ave, Milwaukee, Wisconsin

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
11609 North Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message