721-725 Cornerstone Crossing Office FOR SALE


Waterford, WI
$1,899,000 USD
414-429-1799
, Waterford, WI for Sale
$1,899,000 USD
Office - FOR SALE
1/5
null | 8.08% Cap Rate

721-725 Cornerstone Crossing
Waterford, WI


HIGHLIGHTS

  • Value-add investment, sale lease-back or owner-user opportunity in established yet growing business park with a great school district
  • Solid construction with high-end finishes: private offices, conference rooms, kitchenette
  • Strong, long-term local tenants with NNN (suite D) and modified gross leases
  • Flexible floor plan in 721 building: currently a daycare center with 7 year lease
  • Perfect for government, medical, dental, technology, insurance or light industrial uses
  • Ample parking

OVERVIEW

A portfolio of 2 adjacent / attached similar-looking multi-tenant office buildings located in Waterford, WI (25 miles southwest of Milwaukee). Buildings are 8,000 / 8,760 SF with a shared firewall. The buildings were constructed in 2004 and the owner occupied the 721 building since it was built. The entire 721 building has recently been leased (7 yr). The owner occupies a suite in the 725 building. Both buildings are in a great condition, well insulated and maintained. The property is located in the Planned Community Development District and is zoned PCD-09 (Waterford Centre Business/Industrial). The 721 Cornerstone Crossing building is fully occupied by a daycare center under a long term lease. The 725 Cornerstone Crossing has a strong tenant mix of: insurance agent, hospice company, the building owner and a small retail tenant. Rents range from $10.80 PSF to $15.33 PSF. All leases are modified gross except Suite D, who pays NNN lease. All tenants pay utilities, water, waste removal/recycle. The owner has occupied the building for over 20 years. The property presents a great opportunity for an investor wanting to collect income from the current owner and the tenants. The property is conveniently located next to newly developed luxury residential and retail establishments with easy access to Racine (Highway 20), Milwaukee (Hwy 36), Franklin (Hwy 36), Muskego, Mukwonago, Burlington and Waukesha areas. Microsoft and Foxconn are also a short drive away in Mount Pleasant.

ASK ABOUT THIS PROPERTY

Rick LongstaffVISTA Westerra, LPMore Info
414-429-1799

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Rick LongstaffVISTA Westerra, LPMore Info
414-429-1799

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