Monroe, WI - Fresenius

120 West 7th Street, Monroe, WI

$2,627,000

Price

5.75%

Cap Rate

$151,072

NOI

Overview
Cap Rate
5.75%
NOI
$151,072
Building Size
6,804 sqft
Occupancy
100%
Year Built
2018
Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building) in a NN+, corporate guaranteed, Fresenius Medical Care investment property located in Monroe, Wisconsin. The tenant, Fresenius, recently executed a 15 year lease with 3 (5-year) options to extend. The state-of-art building was recently built in 2018 and features a new, modern design. The lease features 1.7% annual rental increases throughout the initial term, growing NOI and hedging against inflation. The lease is corporate guaranteed by Fresenius Medical Care, one of the largest renal care platforms in the United States, with more than 2,200 locations. The lease is NN+ with landlord responsibilities limited to the roof, structure and lot, making it an ideal, low management investment opportunity for a passive investor.

Fresenius is strategically positioned just off State Highway 11 (14.600 VPD) with convenient on/off ramp access, a major east/west thoroughfare for the state of Wisconsin. The property is also less than 1 mile west of State Highway 69, averaging 11,800 vehicles passing daily. The site located in a dense retail corridor with nearby national/credit tenants including, a 24-hour Walmart Supercenter, Dollar General, Pick ‘n Save, Shopko, and more, further increasing consumer draw to the trade area. Moreover, the asset is the only Fresenius Medical Care or DaVita within a 25 mile radius, limiting competition and providing a direct consumer base to draw from. The 5-mile trade is supported by a population of more than 13,000 residents with an average household income of nearly $70,000.


Location
Gallery