106 Oak St, Boscobel, WI 53805
30,700 SF | Retail Building | Boscobel, WI 53805 | $1,330,000 ($43/SF) | 8% Cap Rate
Asking Price $1,330,000
- Property Type
-
Retail
- Square Feet
- 30,700 SF
- Price / Square Foot
- $43
Listing Contacts
- Property Info
Property Overview
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Piggly Wiggly located in Boscobel, Wisconsin. This 30,700 square-foot asset is priced at an 8% CAP rate, with a list price of $1,330,000. This location has been a grocery store for over two decades; it was originally a Dick’s Supermarket and subsequently became a Piggly Wiggly when Piggly acquired Dick’s. There are just over 2 years remaining on the NN lease in place. Landlord is only responsible for replacement of roof, parking lot and structure.
This location reports sales and enjoys a healthy rent-to-sales ratio of approximately 1.3%. Priced at $43 per square foot, this property could not be built today for even a quarter of the current asking price. The asset is strategically positioned in downtown Boscobel, adjacent to the Gunderson Boscobel Area Hospital. This location benefits from multiple points of ingress and egress, making it easily accessible. This is the only grocery store in the city of Boscobel.
The tenant under the lease is Piggly Wiggly Midwest, who was purchased by C&S Wholesale Grocers, INC in 2021. C&S is the 8th largest privately held company in the United States with reportedly over $30 Billion in annual revenue.
Please reach out to Marcus & Millichap with additional questions or interest.
This location reports sales and enjoys a healthy rent-to-sales ratio of approximately 1.3%. Priced at $43 per square foot, this property could not be built today for even a quarter of the current asking price. The asset is strategically positioned in downtown Boscobel, adjacent to the Gunderson Boscobel Area Hospital. This location benefits from multiple points of ingress and egress, making it easily accessible. This is the only grocery store in the city of Boscobel.
The tenant under the lease is Piggly Wiggly Midwest, who was purchased by C&S Wholesale Grocers, INC in 2021. C&S is the 8th largest privately held company in the United States with reportedly over $30 Billion in annual revenue.
Please reach out to Marcus & Millichap with additional questions or interest.
Property Details
- Class
- B
- Year Built
- 2009
- Stories
- 1
- Lot Size (sq. ft)
- 91,476 SF
Highlights
- High Performing Location With Strong Store Sales | Favorable Rent-to-Sales Ratio Below 1.3%
- Above Market Return – Offered at an 8% CAP | Large Format Piggly Wiggly Offered at a Bite-Size Price Point of $1.33M
- Beyond Favorable Basis – Opportunity to Purchase the Property for $43 per square foot | Short-Term NN Lease with Two Years of Firm Term Remaining
- Limited Competition | Only Grocery Store in Boscobel
- Well Situated Site in Downtown Boscobel | Only .2 miles from I-61
- Adjacent to the Gunderson Boscobel Area Hospital
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