6926 University AveMiddleton, WI 53562

Property Details for 6926 University Ave

Year built

1965

Lot size

2.72 AC

Property size (Sq ft)

42,741 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Parkwood Plaza, a 42,741 square foot, single-story shopping center in Middleton, Wisconsin, presents a compelling investment opportunity. Built in 1965 and renovated in 1993 and 2011, this 2.72-acre property boasts 100% occupancy with a diverse tenant mix including Domino's Pizza, Jimmy John's, The UPS Store, and Willy Street Co-Op, a popular local grocery chain. Willy Street Co-Op, occupying approximately 55% of the gross leasable area (GLA), recently extended its lease through 2037, demonstrating strong tenant commitment. Other tenants also show strong performance and lease longevity, with a weighted average tenant tenure exceeding 13.3 years and a weighted average lease term of 8.4 years. Located at the intersection of University Avenue and Park Street (31,100 vehicles per day), this center benefits from high visibility and accessibility within a densely populated area. The surrounding Middleton community, part of the Madison MSA, exhibits strong demographics, with average household incomes exceeding $142,400 and median home values over $495,000 within a 3-mile radius. The property's strategic location near the University of Wisconsin-Madison further enhances its appeal. Recent lease renewals and expansions underscore the center's desirability and the strength of its tenant base. This grocery-anchored retail center offers a stable income stream and significant potential for long-term growth in a thriving market.

Location Insight

City

Middleton

County

Dane

State

Wisconsin

Latitude

43.0971

Longitude

-89.5013

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