2561 N 29th St - Medical FOR SALE


Milwaukee, WI 53210- Metcalfe Park
$2,970,444 USD
310-486-9900
2561 N 29th St, Milwaukee, WI for Sale
$2,970,444 USD
Medical - FOR SALE
1/3
null | 6.75% Cap Rate

2561 N 29th St
Milwaukee, WI 53210
Metcalfe Park


HIGHLIGHTS

  • Long-Term Absolute NNN Lease with ±10 Years Remaining Through April 2036 | Zero Landlord Responsibilities
  • Scheduled 1% Annual Rental Increases Providing Consistent Income Growth and Inflation Protection
  • Lease Guaranteed by the State of Wisconsin (Aa3 Moody's) | Institutional-Quality Credit Strength
  • Two (2) Five-Year Renewal Options Offering Up to 10 Additional Years of Occupancy
  • Near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD) with Access to I-43 and U.S. Highway 41
  • Milwaukee MSA with 1.58 Million Residents and $116,353 Average Household Income

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Children's Wisconsin outpatient clinic located at 2561 N 29th Street in Milwaukee, Wisconsin. The ±7,583-square-foot purpose-built healthcare facility, constructed in 2010, is secured by a long-term absolute NNN lease with approximately 10 years remaining through April 2036 and zero landlord responsibilities. The lease generates $200,505 in annual base rent at a 6.75% cap rate, with scheduled 1% annual rental increases and two (2) five-year renewal options. Lease payments are guaranteed by the State of Wisconsin (Aa3 Moody's), delivering institutional-quality credit strength and long-term income security. The property is positioned along North 29th Street with convenient access to Interstate 43 and U.S. Highway 41, near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD). The surrounding trade area includes Marquette University (11,500+ enrollment), Fiserv Forum, Ascension SE Wisconsin Hospital, and established residential neighborhoods with 504,208 residents and $88,451 average household income within 5 miles. Children's Wisconsin is the state's No. 1 pediatric hospital per U.S. News, with over 125 years of service, pairing mission-critical healthcare demand with passive, state-backed net-lease income.

FOR SALE DETAILS

PRICE

$2,970,444 USD

PRICE/SF

$392 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Next Door Pediatrics

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,093 SF

ZONING

RT4

APN/PARCEL ID

326-1711-000-7

ASK ABOUT THIS PROPERTY

Robert NarchiMarcus & MillichapMore Info
310-486-9900

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Robert NarchiMarcus & MillichapMore Info
310-486-9900

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