Published on: Monday, October 7, 2024
Updated on: Monday, October 7, 2024
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About the Lister
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Name: Jack Cornell
Company: SRS Real State Partners
Office Phone: (801) 410-1621
Cell Phone: (801) 410-1621
Provide Your Service
Financing  Business  Material
  Southfield Center, Greenfield, WI
SWC S 76th Street and W Holmes Avenue Greenfield Wisconsin , 53220
SWC S 76th Street and W Holmes Avenue Greenfield Wisconsin                                                                                           , 53220SRS Real State Partners
Listing ID: CL-Wisconsin-12344

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 6.75
Net Operating Income: $448,895
Commission Split (%): 0
Quick Glance
Listing ID: CL-Wisconsin-12344
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 100%
Year Build: 2021
Building Size: 11,145.00 SqFt
Lot Size: 62,204.00 SqFt.
No of Stories: 1
No of Parking: 71
Offer to Millionaire Club: No
Business Available for Sale: Yes
Is Net Lease Investment: Yes
Property On Ground Lease: Yes
Building Status: Existing
Listing Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Southfield Center, a 100% occupied, e-commerce resistant, food and services-based investment property located in Greenfield, WI (Milwaukee MSA).
Complete Details
Year Build: 2021
Building Size: 11,145 SqFt.
No of Stories: 1
Total Lot Area: 62204 SqFt.
No of Parking: 71
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: Not Specified
Property on Ground Lease?: Yes
Net Lease Investment?: Yes
Business Price Included?: Yes
Roofing: Not Specified
Occupancy: 100%
Full Description
Description SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in Southfield Center, a 100% occupied, e-commerce resistant, food and services-based investment property located in Greenfield, WI (Milwaukee MSA). Southfield Center features a strong, diversified tenant line up of Five Guys, Naf Naf Grill, Banfield Pet Hospital, and Stanton Optical. All tenants recently executed brand new 10-year leases with 2 (5-year) options to extend, demonstrating their commitment to the site. All leases feature rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. Additionally, each tenant operates under a NNN lease structure, limiting expense leakage for a future investor. The building features state-of-the art, brand new construction with modern amenities and design. Location Southfield Center is strategically located at the hard corner intersection of S. 76th Street and W. Holmes Avenue with 26,900 vehicles passing by daily. The property is equipped with a large monument sign and possesses significant street frontage, creating excellent visibility along both cross-streets. The site benefits from nearby on/off ramp access to Interstate 43 (133,000 VPD), a major commuter thoroughfare serving the greater Milwaukee MSA. Additionally, the asset is ideally situated across from Southridge Mall, a 1.2 million SF regional shopping mall anchored by Dick’s Sporting Goods, Macy’s, and T.J. Maxx. The Southridge Mall is Greenfield’s premier shopping destination featuring over 116 retail, dining, and entertainment options. Other nearby national/credit tenants include Walmart Supercenter, Ross Dress for Less, Best Buy, Kohl’s, JOANN Fabrics, Party City, and more, further increasing exposure and crossover synergy for the asset. Moreover, the site is within close proximity to multiple apartment complexes including the Forte at 84South (268 units), Willowick Apartments (248 units), and Quail Hollow Apartments (120 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by a population of more than 278,800 residents and 108,400 daytime employees with an average household income of $88,758.
Additional Properties
Property Tenants
  • Tenant: Five Guys Properties, LLC (d/b/a Five Guys) - Mama’s Restaurant Group, LLC (d/b/a Naf Naf Grill) - Medical Management International, Inc. (d/b/a Banfield Pet Hospital) - Daniel & Max, LLC (Corporate Guaranteed) (d/b/a Stanton Optical)
  • July 2026 Cap Rate 7.10%
Property Highlights
  • New 10-Year Leases | Scheduled Rental Increases | 100% Occupied | NNN Leases | Brand New Construction
  • Hard Corner Intersection | Excellent Visibility | Quick Access to Interstate 43 (138,000 VPD)
  • Across From Southridge Mall | National/Credit Tenants
  • Strong Demographics in the Trade Area
Features
  • Parcel Number: 616-0001-004
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$0
$0
$0
$448,895
$0
0%
Cash Flow for Current Listings
Listing Location
Attached Documents
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