5600 Bayshore DrGlendale, WI 53217

For Sale
$3,167,000

Two-tenant retail, NNN leases, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 4,878 square foot, fee-simple retail property in Glendale, Wisconsin, within the Milwaukee MSA. The property boasts 100% occupancy with two strong tenants: First Citizens Bank and Crumbl Cookies. Both tenants operate under triple-net (NNN) leases, minimizing landlord expenses and offering predictable cash flow. The First Citizens Bank location includes a convenient drive-thru. Scheduled rent increases are built into the leases, providing protection against inflation and growing net operating income (NOI), currently at $221,688, representing a 7.00% cap rate on the $3,167,000 asking price. Built in 2005, this single-building property sits on a 0.52-acre lot and includes 116 parking spaces. The property is zoned as a Planned Unit Development (PD) District. Its strategic location within the Bayshore shopping center, a 1.27M+ square foot mixed-use center anchored by Target and other national retailers, ensures high visibility and significant foot traffic. Bayshore attracts over 5.5 million annual visitors. The property benefits from its proximity to major roadways, including Interstate 43, and a dense residential population with high average household incomes. The 5-mile trade area boasts over 274,500 residents and 110,800 daytime employees, with an average household income exceeding $174,999 within a 1-mile radius. This presents a compelling investment opportunity with strong tenant synergy, high visibility, and significant growth potential.

Highlights

  • $3,167,000 asking price for a 4,878 SF retail property in Glendale, WI.
  • Net lease investment with a 7.00% cap rate and $221,688 NOI.
  • 100% occupancy with two tenants: First Citizens Bank and Crumbl Cookies.
  • Located in the Bayshore shopping center, a high-traffic area with strong national co-tenancy.
  • 0.52-acre lot with 116 parking spaces and fee simple ownership.

Property Details for 5600 Bayshore Dr

Property type
Other retail properties, Individual retail properties
Square Feet
4,878 SF
Year Built
2005
Buildings
1
Lot Size (sq. ft)
22,651 SF

Location Insight

City
Glendale
County
Milwaukee
State
Wisconsin
Latitude
43.1188564
Longitude
-87.9138287
5600 Bayshore Dr, Glendale, Wisconsin

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5600 Bayshore Dr
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