2222 Capitol DrMilwaukee, WI 53206

Property Details for 2222 Capitol Dr

Year built

1998

Lot size

1.64 AC

Property size (Sq ft)

14,390 SF

Zone code

LB2

Property type

Drug stores

APN

245-0216-110

APU

2450216110

Description

This exceptional investment opportunity presents a 14,171 square foot Walgreens convenience store located at 2222 W Capitol Dr, Milwaukee, WI 53206. The property boasts a prime corner location with over 34,000 vehicles passing daily, ensuring high visibility and accessibility. Built in 1998, this retail space benefits from a 25-year lease with Walgreens, a Fortune 500 company, with approximately 3.2 years remaining. The current lease generates a substantial NOI of $275,310, representing an attractive 8.75% cap rate on the asking price of $3,146,400. The property is strategically positioned within a densely populated area, serving a community of over 850,000 residents within a 5-mile radius. Furthermore, its proximity to the University of Wisconsin-Milwaukee (UWM), with over 27,000 students, and numerous nearby residential developments and community centers, ensures a consistent customer base. The property's critical drive-thru lane adds significant value, capitalizing on the growing demand for convenient retail options. Walgreens' investment-grade credit rating (BBB-) provides exceptional financial security for this promising investment. This is a rare opportunity to acquire a high-performing retail asset in a thriving Milwaukee market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,031,630

  6.5%

  $2,798,430

  7%

  $2,598,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,519,360

  Geo Method

  $1,949,270

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,522,460

  Mixed-Use / Specialty

  $2,762,080

  Hospitality / Lodging

  $1,992,120

  Office

  $2,718,210

  Institutional / Educational

  $2,862,030

  Residential Income

  $3,348,570

  Multifamily

  $4,162,280

  Automotive / Energy

  $2,453,170

  Parking / Income-Based Land

  $872,610

  Restaurant / Food Service

  $1,380,300

  Healthcare / Senior Housing

  $2,859,500

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.0902

Longitude

-87.9399

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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