1501-1567 Broadway St N - Storefront FOR SALE


Menomonie, WI 54751
$10,910,000 USD
317-218-5329
1501-1567 Broadway St N, Menomonie, WI for Sale
$10,910,000 USD
Storefront - FOR SALE
1/17
null | 7.5% Cap Rate

1501-1567 Broadway St N
Menomonie, WI 54751


HIGHLIGHTS

  • Shadows Starbucks, McDonald's & Taco Bell
  • 100% Occupied | 80% of the GLA is Leased until at least 2033
  • Brand New 10-Year Five Below (NASDAQ: "FIVE") Lease | Grand Opening was October 10
  • Seller has Invested over $2.5m in T.I. the last 2 Years and $225k+ in Cap Ex Enhancements
  • New Roof in 2017 with 20-Year Warranty
  • Menomonie is a College Town - Home to University of Wisconsin-Stout (Enrollment: 6,900 Students) | Campus is 1.8 Miles Away

OVERVIEW

Marcus & Millichap is pleased to present the Starbucks and McDonald's Shadow Center located in Menomonie, Wisconsin. The Seller just recently completed the buildout for Five Below in their new space, Five Below's grand opening was October 10. The Nail Spa was also moved to a new space, with the Seller building out that space as well. The center is offered fully stabilized at 100 percent occupancy, with 80 percent of the GLA leased until at least 2033, providing low rollover risk for an investor. A majority of the tenants have streamlined reimbursements with no year-end reconciliation obligations, which provide a clean and fully retained income stream and which supports a more consistent and predictable cash flow. The property is offered well below replacement at $83 per square foot. The 130,000 square foot building shadows Starbucks, McDonald's, and Taco Bell, and is positioned with direct access to Interstate 94. Walmart is located on the other side of the interstate, which is a major traffic and economic driver along North Broadway. The University of Wisconsin-Stout campus is about 1.8 miles from the center. UW-Stout has enrollment of 6,900 students across it's 124 acre campus with 25 major academic buildings and 9 residence halls. UW-Stout is a part of the University of Wisconsin System, which includes several other universities including the University of Wisconsin-Madison (41,900+ students).

FOR SALE DETAILS

PRICE

$10,910,000 USD

PRICE/SF

$84 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks & McDonald's Shadow Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

535

LAND DETAILS

LAND ACRES

10.16 AC

LAND SF

442,570 SF

ZONING

C-1

APN/PARCEL ID

1725122813232200080

ASK ABOUT THIS PROPERTY

Nathan WhalenMarcus & MillichapMore Info
317-218-5329

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Nathan WhalenMarcus & MillichapMore Info
317-218-5329

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.