820 Main StWest Bend, WI 53095

Property Details for 820 Main St

Year built

1976

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

3.42 AC

Property size (Sq ft)

43,359 SF

Property type

Commercial real estate

APN

1119-231-0002

APU

11192310002

Description

This exceptional investment opportunity presents a 42,331 square foot shopping center located at 820-852 S Main St, West Bend, WI 53095. The property boasts a strong 8.66% capitalization rate and a Net Operating Income (NOI) of $221,308, supported by a 100% occupancy rate across its twelve units. The center features a mix of lease types, including triple-net and modified gross leases, providing diverse income streams. Significant recent improvements include new roofs installed in 2018 and 2022, with transferable warranties extending to 2038 and 2044 respectively, minimizing future capital expenditures. The property sits on a 3.42-acre lot and comprises a single, one-story building constructed in 1976. Current rents are below market value, and only two leases contain options, presenting significant upside potential for future income growth. A new five-year lease with annual increases has recently been signed with a prominent tenant. Six tenants also benefit from base term rent increases, further enhancing the property's long-term financial performance. This well-maintained, fully occupied shopping center represents a compelling investment opportunity with substantial upside potential. The asking price is $2,555,000, translating to $60.36 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $8,872,850

  6.5%

  $8,190,320

  7%

  $7,605,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,401,940

  Geo Method

  $5,647,510

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $16,639,900

  Retail / Commercial

  $8,432,040

  Mixed-Use / Specialty

  $8,322,520

  Hospitality / Lodging

  $6,002,520

  Office

  $8,190,320

  Institutional / Educational

  $8,623,670

  Residential Income

  $10,089,700

  Multifamily

  $12,541,500

  Automotive / Energy

  $7,391,720

  Parking / Income-Based Land

  $2,629,290

  Restaurant / Food Service

  $4,159,040

  Healthcare / Senior Housing

  $8,616,070

Location Insight

City

West Bend

County

Washington

State

Wisconsin

Latitude

43.4107

Longitude

-88.1818

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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