Lens Crafters Madison - New 10 Year NNN Lease

Highlights:

• Brand-New 2024 Construction – Delivered in Q1 2024 with high-end tenant buildout
• 10-Year NNN Lease – Minimal landlord responsibilities; roof & structure only
• 10% Rent Increases Every 5 Years – Including in two 5-year renewal options
• Investment-Grade Guarantee – Lease backed by Luxottica of America (S&P A)
• Healthcare-Aligned Use – Eye exams, optical services, and prescription lens lab
• Prime Madison Retail Corridor – Directly across from East Towne Mall (4.6M visits/year per Placer.ai)
• Strong Visibility & Traffic – Over 38,700 VPD along East Washington Avenue (US-151)
• Dense, Affluent Trade Area – 127,000+ residents within 5 miles | $107K avg HH income

Description:

Mid-America Real Estate – Wisconsin is pleased to offer for sale a brand-new LensCrafters located at 4518 E Washington Avenue in Madison, WI. This freestanding, 3,500 SF building was completed in 2024 and is 100% leased to LensCrafters under a 10-year NNN lease with two 5-year renewal options. The lease is guaranteed by Luxottica of America Inc., a subsidiary of EssilorLuxottica (EPA: EL), the world’s largest eyewear company. Rent increases by 10% every 5 years, including during option periods, providing long-term income growth.

The property is strategically located along East Washington Avenue (US-151), a dominant retail corridor in Madison, directly across from East Towne Mall and surrounded by national tenants including Target, Best Buy, Chick-fil-A, and McDonald’s. The corridor sees over 38,700 VPD and serves one of Madison’s densest residential and commercial zones.

This offering presents a rare opportunity to acquire a turnkey healthcare-adjacent retail asset backed by investment-grade credit in a high-traffic location within Wisconsin’s capital city.

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