2204 University Ave - Freestanding FOR SALE


Green Bay, WI 54302- Central Green Bay
$2,105,000 USD
312-279-5342
2204 University Ave, Green Bay, WI for Sale
$2,105,000 USD
Freestanding - FOR SALE
1/8
null | 9.5% Cap Rate

2204 University Ave
Green Bay, WI 54302
Central Green Bay


HIGHLIGHTS

  • Less Than 3 Years Remaining | 33-Year Operating History | Options to Extend | Established Brand
  • Dense Retail Corridor | Strong National/Credit Tenant Presence
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Signalized, Hard Corner Intersection | Interstate 43 (43,600 VPD) | Excellent Visibility & Access
  • Strong Demographics in 5-Mile Trade Area | Direct Consumer Base

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Walgreens investment property located in Green Bay, Wisconsin. The tenant currently has less than 3 years remaining on their initial lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease is a NN with landlord responsibilities limited to exterior and structural portions of the building, roof, and to pipes, ducts, and wires making it an ideal, low-management investment opportunity for a passive investor. Founded in 1901, Walgreens (www.walgreens.com) proudly serves more than 9 million customers and patients each day across its nearly 8,000 stores throughout the U.S. and Puerto Rico. The subject property is located at the signalized, hard corner intersection of University Ave and N Danz Ave which combined average 27,100 VPD. The site benefits from nearby direct on/off ramp access to Interstate 43, a major thoroughfare that averages 43,600 vehicles passing by daily. The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including McDonald’s, Taco Bell, Burger King, Wendy’s, A&W, FedEx, Dairy Queen and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 124,000 and 103,000 employees, providing a direct consumer base from which to draw. The average household income in the 5-mile trade area is $89,745.

FOR SALE DETAILS

PRICE

$2,105,000 USD

PRICE/SF

$137 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,113 SF

ZONING

C1 -

APN/PARCEL ID

21-2273

ASK ABOUT THIS PROPERTY

Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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