Shops at Oak Creek | Fully Occupied Three Building Strip Center

120 West Town Square Way, Oak Creek, WI

$7,640,000

Price

6.65%

Cap Rate

$508,125

NOI

Overview
Cap Rate
6.65%
NOI
$508,125
Building Size
15,369 sqft
Lot Area
1.95 acres
Lease Type
Triple Net
Year Built
2018
Parking Spots
100
Description

THE OFFERING provides an opportunity to acquire a newly built, six-tenant strip center located in Oak Creek, WI. The subject property is leased to an excellent mix of national and regionally-strong tenants including Verizon Wireless and Stanton Optical. All tenants feature brand new 10-year leases with rent escalations. The tenants are all on NNN leases, and reimburse for their proportionate share of common area, tax, and insurance expenses. The property is constructed as three separate buildings, an ideal configuration for tenants who want to be on the end-cap space or a freestanding building, maximizing visibility and profile.

THE PROPERTY is located along S. Howell Ave. near the intersection of W. Drexel Ave, and is part of a larger Drexel Town Square. Drexel Town Square is a $175 Million mixed use/retail project anchored by a 192,000 SF Meijer store & gas, a hospital, and a city hall/library/municipal building. The project is 5-miles from the Milwaukee International airport and has transformed the area into a beacon of commercial activity.

Listed in Conjunction with WI Licensed Broker:
Jon Thoresen
Founders 3 Real Estate Services
jthoresen@founders3.com
PH: 414.271.1111

Highlights
  • Newly-built NNN retail strip center in Milwaukee suburb
  • Attractive 3-building configuration with free standing building and numerous end caps
  • Attractive low average rents of $33.06/ft
  • Anchored by a 192k SF Meijer store, a major hospital, and a city hall/library/municipal building
  • Located in the Milwaukee MSA with average household incomes over $81,000 within a 3-mile radius
Documents
Title
Offering Memorandum
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Location
Gallery