6084 Packard AveCudahy, WI 53110

Property Details for 6084 Packard Ave

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.50 AC

Property size (Sq ft)

3,872 SF

Zone code

B-2PUD

Property type

Auto shops

APN

682-9906-000

APU

6829906000

Description

This fee-simple, single-tenant auto shop in Cudahy, WI, presents a compelling investment opportunity. The 3,520 square foot building, constructed in 1985 on a 0.5-acre lot, is 100% occupied by a corporately guaranteed tenant under a triple-net (NNN) lease with annual rent bumps. The current lease, commencing October 7, 2022, and expiring October 6, 2027, offers a remaining term of approximately 2.9 years, with lease options available. The property boasts a strong net operating income (NOI) of $61,814, resulting in an 8.00% cap rate and a price per square foot of $219.60. The asking price is $773,000. The property includes 10 parking spaces and benefits from a highly visible location on Packard Avenue, near major retailers and Milwaukee Mitchell International Airport. The tenant has operated at this location for over 22 years, demonstrating operational stability within a densely populated area with over 53,400 residents within a three-mile radius and an average household income exceeding $75,000. The building features six service bays and a waiting area. The lease includes annual rent increases of 1.50 percent during the base term and option periods. The property's location offers excellent visibility and accessibility. This is a rare opportunity to acquire a well-established, high-performing auto service center in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $815,738

  6.5%

  $752,989

  7%

  $699,204

• Comparable approach

  Method

  Valuation

  Relative Method

  $408,822

  Geo Method

  $524,501

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,485,960

  Mixed-Use / Specialty

  $743,209

  Hospitality / Lodging

  $536,031

  Office

  $731,403

  Institutional / Educational

  $770,102

  Residential Income

  $901,019

  Multifamily

  $1,119,970

  Automotive / Energy

  $660,087

  Parking / Income-Based Land

  $234,798

  Restaurant / Food Service

  $371,406

  Healthcare / Senior Housing

  $769,423

Location Insight

City

Cudahy

County

Milwaukee

State

Wisconsin

Latitude

42.9339

Longitude

-87.8604

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].