333 Prospect AveNorth Fond du Lac, WI 54937
- Commercial real estate
- 9,020 SF
Property Details for 333 Prospect Ave
- Year built
- 2004
- Construction
- STEEL FRAME
- Lot size
- 1.27 AC
- Property size (Sq ft)
- 9,020 SF
- Property type
- Commercial real estate
- APN
- V05-15-17-04-07-002-00
- APU
- V051517040700200
Description
This exceptional investment opportunity features a 9,014 square foot Dollar General store situated on a 1.27-acre lot in North Fond du Lac, Wisconsin. The property boasts a strong 8.00% cap rate and a substantial Net Lease (NN+) with a credit-rated corporate guarantor. The current lease, commenced November 1, 2004, has a remaining term of approximately 5.9 years, extending to October 31, 2030. The lease includes 10% rent bumps in each option period. The asking price is $760,813, translating to $84.40 per square foot. Built in 2004, this location benefits from a recently redone parking lot and enjoys high visibility on Prospect Avenue, a road with over 7,500 vehicles per day. The property's strategic location is proximate to major retailers including Walmart, Target, and numerous restaurants and services, and is conveniently located near I-41, a freeway with 47,000 vehicles daily. The property is also adjacent to a 293-unit manufactured home community and a newly constructed 62-unit apartment complex. The strong tenant history, coupled with the favorable lease terms and prime location, makes this a compelling investment opportunity with significant long-term potential. The property's Net Operating Income (NOI) is $60,865. Fond du Lac's robust economy, anchored by Mercury Marine and its supporting industries, further enhances the investment's attractiveness.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $1,864,198
- Hospitality
- $1,707,596
- Educational
- $1,420,700
- Medical
- $1,469,560
- Retail
- $2,209,977
Location Insight
- City
- North Fond Du Lac
- County
- Fond Du Lac
- State
- Wisconsin
- Latitude
- 43.802
- Longitude
- -88.4798
- CBSA code
- 22540
- CBSA name
- FOND DU LAC, WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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