2678 108 StWest Allis, WI 53227

Property Details for 2678 108 St

Lot size

0.70 AC

Property type

Commercial real estate

APN

485-9990-009

APU

4859990009

Description

This exceptional investment opportunity presents a brand-new, 2,798 square foot Chase Bank located at 2678 S 108th St, West Allis, WI 53227. The property sits on a 0.88-acre lot and boasts a 15-year absolute NNN ground lease commencing November 30, 2023, and expiring November 30, 2038, with three five-year renewal options. The lease includes a corporate guarantee from Chase Bank and features a 10% rent increase every five years. The asking price is $3,921,569, representing a 5.10% cap rate and a $200,000 annual net operating income (NOI). The property benefits from excellent visibility at a signalized intersection with high traffic counts (184,000 vehicles per day) from combined roads, including Highway 100 and Interstate 41. Its strategic location adjacent to West Allis Center, a 232,57 square foot shopping center, and a renovated Target store, ensures high foot traffic and visibility. The surrounding area demonstrates strong demographics, with 259,840 residents, 112,418 households, and an average household income of $87,414 within a 5-mile radius. The property is also conveniently located seven miles from Downtown Milwaukee. This prime location is further enhanced by its proximity to numerous national tenants, including Walgreens, OfficeMax, Burger King, Chick-fil-A, Panda Express, Starbucks, Marshalls, HomeGoods, Kohl's, and Piggly Wiggly. The building was constructed in 2023. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $6,248,790

  6.5%

  $5,768,110

  7%

  $5,356,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,100,110

  Geo Method

  $3,977,310

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $11,718,800

  Retail / Commercial

  $5,938,340

  Mixed-Use / Specialty

  $5,861,220

  Hospitality / Lodging

  $4,227,330

  Office

  $5,768,110

  Institutional / Educational

  $6,073,300

  Residential Income

  $7,105,760

  Multifamily

  $8,832,480

  Automotive / Energy

  $5,205,690

  Parking / Income-Based Land

  $1,851,700

  Restaurant / Food Service

  $2,929,040

  Healthcare / Senior Housing

  $6,067,950

Location Insight

City

West Allis

County

Milwaukee

State

Wisconsin

Latitude

42.9957

Longitude

-88.0465

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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