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Family Dollar

$ 2,078,433
Milwaukee, Wisconsin
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Address: 2117 West Center Street, Milwaukee, Wisconsin, United States 53206

Type: Discount Store

Cap Rate: 6.25%

Lease Type: Triple-Net (NNN)

Annual Rent: $129,902

Net Operating Income: $129,902

Lease Term Remaining: 15 Years

Rental Increases: 10% Every Five Years, Starting Year 11

Options: Six (6), Five (5) Year Option Periods

Rentable Sq/Ft: 8,247 SF

Rent Sq/Ft: $15.75

Price Sq/Ft: $252

Lot Size: +/-0.71 Acres

Marcus & Millichap is pleased to present the exclusive listing for a Family Dollar located at 2117 West Center Street in Milwaukee, Wisconsin. The property consists of 8,247 square feet of building space and is situated on approximately 0.71 acres of land. This Family Dollar Property is subject to a 15-year triple-net (NNN) lease. The rent commenced on December 5th, 2017 and the current annual rent is $129,902. The lease is subject to ten percent rental increases every five years, which will begin in Year 11.  The rental increases will continue through the six, five-year tenant renewal options.

When it comes to getting value for everyday items for the entire family in an easy to shop, neighborhood location, Family Dollar is the best place to go. One of the  nation’s fastest growing retailers, Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home decor, all for everyday low prices. While shoppers can find many items for $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.

This Family Dollar Property is located at 2117 West Center Street in Milwaukee, Wisconsin. Located in the southeastern portion of Wisconsin, the Greater Milwaukee area is positioned on the shore of Lake Michigan at the confluence of the Menomonee, Kinnickinnic and Milwaukee Rivers. Known for its brewing traditions, Milwaukee is the largest city in Wisconsin.

The subject property benefits from its strategic location in a dense residential corridor. The primary and secondary schools within a mile of the property have a combined enrollment of over 2,500 students. Surrounding retailers include Citgo, Cricket Wireless, MetroPCS, Neighbor Food Market, Sam Food, Save More Food Market, and other local small businesses. The University of Wisconsin – Milwaukee is just three and a half miles away, enrolling over 26,000 students. The Aurora Sinai Medical Center, which has 228 staffed beds, is just wo miles away from this Family Dollar location.

There are approximately 241,653 individuals residing within a three-mile radius of the property and more than 499,655 individuals within a ten-mile radius. The subject property is located on West Center Street, which sees an average daily traffic count of 13,600 vehicles. West Center Street intersects with Interstate 43, which sees an average daily traffic count of 142,027 vehicles.

Private business underpins Milwaukee’s economy, with manufacturing at its core. Led by Harley-Davidson, Rockwell Automation and GE Healthcare, almost 3,000 manufacturers have operations in the Greater Milwaukee area. The local economy has diversified into other critical industries such as data processing, insurance, mutual funds and printing. The region also supports an increasing number of healthcare and technology companies. There are six Fortune 500 firms located in the metro: Johnson Controls, Northwestern Mutual, Manpower, Rockwell Automation, Harley-Davidson and Joy Global. Milwaukee has invested heavily in its infrastructure. Major new additions to the city include the Milwaukee Riverwalk, the Wisconsin Center, Miller Park, an internationally renowned addition to the Milwaukee Art Museum, Milwaukee Repertory Theater, and Pier Wisconsin, as well as major renovations to the UW-Milwaukee Panther Arena. New skyscrapers, condos, lofts and apartments have been constructed in neighborhoods on and near the lakefront and riverbanks. General Mitchell International Airport, located to the south of downtown Milwaukee, provides air service to over 50 cities and is responsible for nearly 10 million passengers per year. The Port of Milwaukee is directly joined to the Great Lakes-St. Lawrence Seaway System for ocean shipping and to New Orleans via the Mississippi River for inland barge service. Milwaukee is home to a variety of themed, seasonal festivals celebrating Milwaukee’s history and diversity, earning it its nickname, the “City of Festivals.” The city hosts the Wisconsin State Fair, as well as the annual Summerfest, one of the largest music festivals in the country.

 

 

Broker of Record: Todd Lindblom – License # 56163

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Glen Kunofsky

President, Founder
(212) 430-5115

Judson Kauffman

Senior Managing Director, Investments
(212) 430-5204