1507 Sunset DrWaukesha, WI 53189

Property Details for 1507 Sunset Dr

Year built

1990

Lot size

2.39 AC

Property size (Sq ft)

13,496 SF

Zone code

B-4

Property type

Office properties

Property subtype

Office buildings

APN

WAKC1349032

APU

WAKC1349032

Description

This exceptional investment opportunity presents a fully leased, 14,200 square foot Class B office building situated on a 2.3-acre lot in Waukesha, Wisconsin. Located at 1507 E. Sunset Drive, this single-story building boasts 80 parking spaces and benefits from a high-traffic corner location on Les Paul Parkway (Highway 164), with over 21,000 vehicles passing daily, providing excellent signage visibility. Built in 1990, the property features seven units with a diverse tenant mix including medical, financial, and professional services businesses, ensuring a stable income stream. The current occupancy is 100%, generating a Net Operating Income (NOI) of $227,686 and an 8.76% cap rate. The asking price is $2,600,000, translating to $183.10 per square foot. The property is zoned B-1 and offers a gross lease structure with built-in rent bumps ranging from 3% to 5%, providing future income growth potential. This fee-simple ownership opportunity presents a compelling investment in a thriving Waukesha location. The property's strong tenant base, including established businesses like a family dentistry practice, Edward Jones, and First Weber, contributes to its exceptional stability and long-term value. This is a stabilized investment asset with a proven track record of success.

• CAP approach

  CAP return

  Valuation

  6%

  $2,436,863

  6.5%

  $2,249,412

  7%

  $2,088,740

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,370,157

  Geo Method

  $1,757,854

• Alternative Use

  Use

  Valuation

  Residential

  $2,789,271

  Hospitality

  $2,554,957

  Educational

  $2,125,694

  Medical

  $2,198,800

  Retail

  $3,306,636

Location Insight

City

Waukesha

County

Waukesha

State

Wisconsin

Latitude

42.9857

Longitude

-88.2092

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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