11609 North AveMilwaukee, WI 53202

Property Details for 11609 North Ave

Lot size

0.30 AC

Property size (Sq ft)

6,400 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.0601

Longitude

-87.8955

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