212 Green Bay St, Shawano, WI 54166
15,238 SF | 91% Leased | Retail Building | Shawano, WI 54166 | $1,331,000 ($87/SF) | 9.05% Cap Rate
For Sale
Active
Asking Price $1,331,000
- Property Type
-
Retail
- Square Feet
- 15,238 SF
- Price / Square Foot
- $87
Listing Contacts
Mitchell Kiven
Benjamin Kohl
Property Overview
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a 15,238 square foot neighborhood retail center located in Shawano, Wisconsin. This opportunity is offered at an 9.05% CAP rate with an asking price of $1,331,000. The property is occupied by a selection of regional tenants, many of whom are multi-unit operators. All tenants reimburse for Real Estate taxes for their pro-rata share of the building. One unit (roughly 1,300 square feet) is recently vacant, but the seller is willing to guarantee the balance of rent owed through the duration of the lease. There is some upside by backfilling the space with a new tenant paying closer to market rent.
At the current asking price there is a day 1 cash-on-cash return of 9.94%, with currently available debt. The pro forma cash on cash return, once stabilized is over 10.54%. Priced at $87.35/sf, this center could not be built today for the current asking price. The property is easily accessible, there are multiple points of ingress and egress. The asset is strategically positioned in Shawano’s historic downtown, with national tenants surrounding the subject location.
Please reach out to Marcus & Millichap with additional questions and interest.
At the current asking price there is a day 1 cash-on-cash return of 9.94%, with currently available debt. The pro forma cash on cash return, once stabilized is over 10.54%. Priced at $87.35/sf, this center could not be built today for the current asking price. The property is easily accessible, there are multiple points of ingress and egress. The asset is strategically positioned in Shawano’s historic downtown, with national tenants surrounding the subject location.
Please reach out to Marcus & Millichap with additional questions and interest.
Property Details
- Class
- B
- Year Built
- 2004
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 22,651 SF
Highlights
- Priced well below replacement cost at $87.35/sf
- Stabilized retail center with below market rents
- Strategically positioned in a retail corridor in downtown Shawano
- Easily accessible | Multiple point of ingress and egress
- Strong historical occupancy | Average tenancy of 11.83 Years
All available spaces
- Space
- 1st Floor
- Size
- 1,300 SF
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