15350 Bluemound RdElm Grove, WI 53122

Property Details for 15350 Bluemound Rd

Lot size

0.91 AC

Zone code

B

Property type

Commercial real estate

APN

EGV 1111982

APU

EGV1111982

Description

This exceptional investment opportunity presents a fee-simple ownership of a 15,340-square-foot Walgreens located at 15350 W Bluemound Rd, Elm Grove, WI 53122. The property boasts a strong 14-year remaining lease term (commencing November 21, 2023, and expiring November 30, 2038) with a corporate guarantee from Walgreens, an absolute NNN lease structure, and attractive 5% rent increases every five years. The asking price is $4,908,800, representing a price per square foot of $320 and a 6.25% cap rate based on a current NOI of $306,800. The single-story building sits on a 38,876-square-foot lot and benefits from its strategic location at a bustling intersection with over 86,300 vehicles passing daily. This high-traffic area is further enhanced by its proximity to Brookfield Square Mall, a major regional shopping center attracting 4.1 million annual visitors, and a strong demographic profile featuring average household incomes exceeding $177,000 within a one-mile radius. The location also benefits from the presence of eight colleges and universities in the surrounding trade area. The lease includes twelve, five-year options. This is a rare opportunity to acquire a stable, high-performing Walgreens with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $8,120,600

  6.5%

  $7,495,940

  7%

  $6,960,520

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,028,740

  Geo Method

  $5,168,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $15,229,200

  Retail / Commercial

  $7,717,160

  Mixed-Use / Specialty

  $7,616,930

  Hospitality / Lodging

  $5,493,620

  Office

  $7,495,940

  Institutional / Educational

  $7,892,550

  Residential Income

  $9,234,280

  Multifamily

  $11,478,200

  Automotive / Energy

  $6,765,040

  Parking / Income-Based Land

  $2,406,380

  Restaurant / Food Service

  $3,806,430

  Healthcare / Senior Housing

  $7,885,590

Location Insight

City

Elm Grove

County

Waukesha

State

Wisconsin

Latitude

43.0365

Longitude

-88.106

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].