Listing Summary
Prime NNN LensCrafters in Madison, WI! Corporate EssilorLuxottica guaranty (S&P: A), 2024 build, 10% rent bumps, 8 yrs left, next to East Towne Mall.
Full Description
Exceptional Investment Opportunity: Premier LensCrafters Net-Leased Retail Facility in Madison, WI
Lee & Associates is pleased to present the exclusive opportunity to acquire the fee simple interest in a state-of-the-art, single-tenant commercial property leased to LensCrafters, located at 4518 E. Washington Avenue, Madison, WI 53704. Completed in 2024, this newly constructed 3,486-square-foot retail asset sits on an expansive 0.70-acre lot in the heart of Madison's premier east side retail corridor. Backed by a strong corporate guarantee from global optical leader EssilorLuxottica (S&P: A Rated), this property offers investors long-term income stability, scheduled rent escalations, and unmatched commercial real estate fundamentals.
Executive Investment Highlights
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Investment-Grade Corporate Guarantee: Fully guaranteed by Luxottica of America, Inc., a wholly owned subsidiary of EssilorLuxottica S.A. (S&P: A Rated)—a global powerhouse generating approximately $28 billion in annual revenue and operating over 5,900 retail locations across North America.
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Industry-Leading Anchor Tenant: Operates as LensCrafters, one of North America's foremost optical retail platforms, boasting more than 1,100 locations and leveraging EssilorLuxottica’s fully vertically integrated supply chain and design network.
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Significant Tenant Capital Commitment: Features a extensive, custom medical interior build-out specifically designed to accommodate LensCrafters' high-tech optometric and retail operations, creating exceptionally high tenant sticky factor and relocation barriers.
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Inflation-Protected Double-Net (NN) Lease: Structured with approximately 8 years of primary lease term remaining, featuring guaranteed 10% rental increases every 5 years to provide continuous growth in net cash flow, plus two (2) 5-year renewal options.
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Shadow-Anchored by Wisconsin's Top Regional Mall: Adjacent to East Towne Mall, the highest-rated super regional mall in Wisconsin, featuring over 80 national retailers and attracting roughly 4.8 million annual visitors.
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High-Volume Commercial Thoroughfare Exposure: Commandingly situated along East Washington Avenue (US-151), exposing the site to over 25,000 vehicles per day (VPD), with immediate proximity to Interstates 90/94 (I-90/94), which carry over 77,500 VPD.
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Strong Affluent Demographics & Dense Economic Hub: Situated in a dense infill trade area boasting over 128,000 residents, 68,000 daytime employees, and an average household income exceeding $115,000 within a 5-mile radius.
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Resilient State Capital & Academic Market: Madison’s robust local economy is continuously driven by top-tier institutional anchors, including the State of Wisconsin government, the University of Wisconsin-Madison, major health systems, and a booming technology sector.
Property Specifications & Financial Summary
This modern 2024 single-tenant commercial facility combines premier site design, high traffic access, and strong corporate backing.
| Investment & Property Attribute |
Specification Details |
| Tenant Name |
LensCrafters (1,100+ Locations) |
| Lease Guarantor |
Luxottica of America, Inc. / EssilorLuxottica S.A. (S&P: A Rated) |
| Property Address |
4518 E. Washington Avenue, Madison, WI 53704 |
| Building Size (GLA) |
3,486 SF |
| Lot Size / Acreage |
0.70 Acres (approx. 30,492 SF) |
| Year Built |
2024 (Brand New Custom Buildout) |
| Lease Structure |
Double-Net (NN) Lease |
| Remaining Primary Term |
Approx. 8 Years Remaining |
| Rent Increases |
10% Every 5 Years |
| Renewal Options |
Two (2), 5-Year Extension Options |
| Traffic Counts |
25,000 VPD (US-151) / 77,500 VPD (I-90/94) |
| Surrounding Anchor |
East Towne Mall (4.8 Million Visitors/Year) |
Quick Glance
- Listing ID:
CL-Wisconsin-28155
- Status:
Active
- Year Build:
2024
- Building Size:
3,486 SqFt
- Lot Size:
1 Acr
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