12132 Capitol DrWauwatosa, WI 53222

Property Details for 12132 Capitol Dr

Lot size

2.98 AC

Property size (Sq ft)

25,725 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 25,725-square-foot, multi-tenant retail center in Wauwatosa, Wisconsin. Located at 12132 W Capitol Dr, 53222, this Class B shopping center boasts a strong tenant mix including Sherwin-Williams, Advanced Auto Parts, GNC, Wingstop, Toppers, Noodles & Company, Remedy Intelligent Staffing, Regional Finance, and Cookie Cutters. Currently operating at 91% occupancy, the property offers a stabilized investment with a 7.24% cap rate and a net operating income (NOI) of $542,866. The asking price is $7,500,000, translating to a price per square foot of $291.55. The property features ten units within a single building situated on a 2.98-acre lot with commercial zoning. Advance Auto and Sherwin Williams are significant tenants, representing 41% of the leasable space and 36% of the income. All leases are triple net (NNN). The seller will guarantee rent for the two currently vacant suites for two years. The parking lot is scheduled for replacement in July 2024. Originally constructed in 2005, this low-maintenance brick building benefits from its outparcel location adjacent to a Home Depot and its proximity to Interstate 41, experiencing over 150,000 vehicles per day. The property is surrounded by institutionally owned properties and is situated within the Milwaukee MSA, a market with over 1.5 million residents, just 10 miles from downtown Milwaukee. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with a strong tenant base and significant upside potential.

Location Insight

City

Wauwatosa

County

Milwaukee

State

Wisconsin

Latitude

43.0897

Longitude

-88.064

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