1583 Forest Home AveMilwaukee, WI 53204

Property Details for 1583 Forest Home Ave

Year built

2019

Lot size

0.70 AC

Property size (Sq ft)

7,515 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,515 square foot O'Reilly Auto Parts store in Milwaukee, WI. Located at 1583 W Forest Home Ave, 53204, this property boasts a strong 5.90% cap rate and a substantial net operating income (NOI) of $143,940. The property sits on a 0.7-acre lot and benefits from a long-term, 20-year net lease (NN) with O'Reilly Auto Parts, a Fortune 500 company and an investment-grade tenant (BBB rating by S&P). The lease commenced September 23, 2019, and has approximately 14.8 years remaining, featuring built-in rent bumps of 6% in 2029 and 2034, and four 5-year lease options. The property's prime location at a high-traffic intersection (approx. 22,287 vehicles per day) ensures excellent visibility and accessibility. Surrounding national retailers further enhance the property's desirability and contribute to a robust retail corridor. The property's resilience is underscored by the essential nature of the auto parts retail business, particularly given the aging vehicle population and the increasing number of years consumers keep their cars. Furthermore, the property's location within a Milwaukee Opportunity Zone adds to its investment appeal. The asking price is $2,439,661, translating to a price per square foot of $324.64. This is a compelling investment opportunity offering strong returns, stability, and significant long-term growth potential. The building was constructed in 2019.

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.0093

Longitude

-87.9328

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].