The investment consists of a 26,829 square foot, single tenant grocery store leased to Piggly Wiggly Midwest, LLC - operating as Piggly Wiggly. The tenant executed a 20 year lease in 1997 with an additional three-five year options to extend. The lease includes five percent rent increases in each of the option periods. The lease is structured as NN whereas the tenant is responsible for all expenses associated with the property. Roof, structure, & parking lot replacement are to be amortized over their useful lives (including reasonable interest on borrowed funds) and reimbursed by the tenant. The property is located along Main Street on the northern end of Edgerton. Area retail tenants include Subway, Family Dollar, and several local restaurants. This location is a seasoned store with sales exceeding $400 per square foot and a strong rent to sales ratio of approximately two percent. Piggly Wiggly is the only true grocer in Edgerton and the nearest Walmart is over 14 miles south in Janesville, Wisconsin. Sales Info: ■ Cap rate: 9.02% ■ NOI: $225,379 Location Description: Edgerton, Wisconsin is a City in southern Wisconsin located between Madison and Janesville. Within a five mile radius of the property the population is 11,722, reflecting a change of 9.01 percent since 2000. Highlights: ■ Single Tenant NN Grocery Store Investment ■ Seasoned Store with Sales Exceeding $400 Per Square Foot (Contact Agent for Details) ■ Tenant Reimburses Capital Expenditures for Roof, Structure, and Parking Lot ■ Strong Rent to Sales Ratio (Approximately Two Percent) ■ Tenant Has Option to Expand to Additional 6,200 Square Feet. ■ Nearest Walmart is over 14 Miles South in Janesville « show less
The investment consists of a 26,829 square foot, single tenant grocery store leased to Piggly Wiggly Midwest, LLC - operating as Piggly Wiggly.... show more »
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