5888 Port Washington RdGlendale, WI 53217

For Sale
$4,281,000

Corporate NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple interest in a 6,760 square foot U.S. Bank branch located at 5888 N Port Washington Rd, Glendale, WI 53217. The property boasts a corporate-guaranteed, triple-net (NNN) lease with a remaining term of 8.5 years, featuring scheduled 10% rent increases every five years. This provides significant long-term income growth and inflation protection. The bank, a leading financial institution, occupies the entire building, ensuring 100% occupancy. The property sits on a 0.2-acre lot and includes 84 parking spaces. Built in 1991, the building is situated within the Bayshore mixed-use center, a high-traffic location with over 5.5 million annual visits, benefiting from strong tenant synergy and a dense residential population. The property is zoned as a Planned Unit Development (PD) District and enjoys excellent visibility and access from Port Washington Road and Interstate 43. The strong demographics of the area, including an affluent average household income of $174,999 within a 1-mile radius, further enhance the investment potential. The property's Net Operating Income (NOI) is $256,880, resulting in a 6.00% cap rate and a price per square foot of $633.28. This is a low-management, passive investment opportunity with substantial upside potential. The asking price is $4,281,000.

Highlights

  • Fee-simple ownership of a 6,760 SF U.S. Bank branch in Glendale, WI.
  • Triple-net (NNN) lease with 8.5 years remaining and 10% rent increases every five years.
  • 100% occupancy with a corporate guarantee from a leading financial institution.
  • 0.2-acre lot with 84 parking spaces in a high-traffic Bayshore mixed-use center.
  • $4,281,000 asking price, $256,880 NOI, 6.00% cap rate, and $633.28 price per square foot.

Property Details for 5888 Port Washington Rd

Property type
Other retail properties, Individual retail properties
Square Feet
6,760 SF
Year Built
1991
Buildings
1
Lot Size (sq. ft)
8,712 SF

Location Insight

City
Glendale
County
Milwaukee
State
Wisconsin
Latitude
43.1234511
Longitude
-87.9145566
5888 Port Washington Rd, Glendale, Wisconsin

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5888 Port Washington Rd
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