1701 108Th StWest Allis, WI 53214

  • Other commercial real estate
  • 2.01 AC
For Sale
$5,060,000 View listing

Property Details for 1701 108Th St

Lot size
2.01 AC
Property type
Other commercial real estate
APN
448-9981-003
APU
4489981003

Description

This exceptional West Allis, WI retail center offers a compelling investment opportunity. The property, located at 1701 S 108th St, boasts 35,670 square feet on a 2.01-acre lot and features two national tenants: The Tile Shop and Allied Pools. Both tenants are under absolute NNN leases, providing significant expense recovery and minimizing landlord responsibilities. The Tile Shop's lease has 7.2 years remaining with a 5% rent increase every five years, while Allied Pools' lease has 7.2 years remaining with a 2% annual rent increase. The property enjoys a current NOI of $392,130 and a pro-forma NOI of $406,850, translating to a 7.75% cap rate. Built in 1974 and renovated in 2020, the center benefits from recent capital expenditures exceeding $200,000, including a new roof with a 20-year transferable warranty and a new parking lot—all tenant-reimbursed. The property's prime location on a major thoroughfare in West Allis (39,000+ vehicles per day), less than a mile from I-41 (141,000+ vehicles per day), and across from a grocery-anchored retail plaza, ensures high visibility and strong traffic. The asking price is $5,060,000, representing $141.86 per square foot. This investment offers a strong return, financial stability, and long-term growth potential. The corporate guarantees from both tenants provide additional security. The property is 100% occupied.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $18,131,500
    Hospitality
    $16,608,357
    Educational
    $13,817,958
    Medical
    $14,293,179
    Retail
    $21,494,602
1701 108Th St, West Allis, Wisconsin

Location Insight

City
West Allis
County
Milwaukee
State
Wisconsin
Latitude
43.0113
Longitude
-88.0477
CBSA code
33340
CBSA name
MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$65,924
$957,600
$1,379,500
$2,337,100
-
-
-
$3,255,500

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