Bayshore Area Retail Plaza

Glendale, WI

Offering Summary

  • Status: closed
  • Price: $3,255,000
  • CAP Rate: 6.75%
  • GLA: 13,763 SF
  • Net Operating Income: $219,587
  • Price/SF: $236.50
  • Year(s) Renovated: 2006
  • Lot Size (Acres): 1.14 Acres
  • Major Tenants: Fast Signs, Lee Kong Chinese, Gyro Palace, WingStop
  • 89% Percent Occupied, 13,763-Square-Foot Strip Center in Glendale, Wisconsin – Dynamic Community 4 Miles from the City of Milwaukee
  • Fast Signs (52.49% Percent of Gross Leasable Area) on Net Lease Thru May 2025; Prime Space with Prominent Signage
  • Long Term Tenants WingStop & Lee Kong Chinese Restaurant Occupy 25% of GLA and both Recently Extended for 5-Year’s Through 2027
  • Diversified, Durable Tenant Base with ECommerce-Proof Service-Oriented Businesses Including Lee Kong Chinese, Gyro Palace and WingStop
  • Lease up opportunity of 1,500 SF (10.90% of Gross Leasable Area) Potentially Adding $49,845 to NOI
  • New Construction of 2,800 Square Foot Chick-fil-A Drive-Thru-Only, within 2 Minutes from Bayshore Area Retail Plaza
  • Constructed in 2006 with High-Image Facades, Prominent Signage, and Strong Visibility
  • Pro Forma Cap Rate of 8.28% Producing Cash On Cash Return of 13.44% and 20.32% Year one Total Return
  • Ease of Management with Only 4 Tenants in Place, Local Tenants, and 4 out of 5 NNN Leases with Many Tenants Reimbursing for Management & Admin Fee’s
  • Situated in Glendale’s Primary Retail Corridor that Features Neighboring Retailers Trader Joe’s, Kohls, Ulta Beauty, Walgreen’s, Pet Supplies Plus, FedEx Office & Print, Barnes & Noble, Hyundai Nissan, and Dozens of Restaurants
  • Affluent Demographics – Average Household Income of $130,000 Within 1-Mile Radius Glendale, Wisconsin
  • Milwaukee, WI is on Lake Michigan’s Western Shore; Milwaukee is Considered a “GAMMA” Global City as Categorized by the Globalization and World Cities Research Network with a Regional GDP of over $107 Billion
  • Milwaukee is the Largest City in the State of Wisconsin – 4th Largest City Situated Along the Great Lakes
  • Located on N Port Washington with Excellent Access and Visibility to I-43 with 21,000 + Vehicles Per Day & 17,000 + Vehicles Per Day Off W Henry Clay St N
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director