Highland Plaza is a 95,118 SF multi-tenant retail shopping center, located at 8530-8600 W. Brown Deer Road in Milwaukee, WI. The property is well located along the Brown Deer Road commercial corridor and shares an intersection with Target, located across Brown Deer Road to the south. Prominent building tenants include: K&G Men's Company, OctaPharma Pharmacy and Half Price Books. The center offers investors an excellent opportunity to purchase a structurally sound asset in a high trafficked commercial corridor with strong income in place. There is the ability to add-value by leasing up the vacant units. Seller is motivated. Location Description: The property is located aong the Brown Deer Road commercial corridor in Milwaukee, Wisconsin. Brown Deer Road is heavily trafficked with nearly 35,000 VPD. There are numerous national retailers in close proximity to the property inlcuding Target, directly across Brown Deer Road to the South, Walgreens, adjacenet to the property to the east, Menard's, Walmart, McDonald's, Olive Garden, O'Reilly Auto Parts, Aldi, and Toys R' Us, among many others. Highlights: ■ At the current 67% occupancy rate, the net operating income (NOI) is approximately $463,000 - 11% CAP RATE ■ Recent leasing momentum includes new leases with OctaPharma Plasma for 15,900 square feet, Highland Plaza Beverage for 4,025 square feet, and Metro PCS for 1,750 square feet. All three leases have been executed in the last twelve months. ■ Varying lease expiration dates mitigate risk for Ownership ■ OctarPharma Plasma, the center's second largest Tenant has term length through 2025 (Approximately $260,000 spent by Landlord on TI's related to recent lease) ■ Excellent location including shared intersection with Target, including visibility to approximately 34,800 VPD along Brown Deer Road ■ Parking lot improvements totaling $45,000 just recently completed ■ All vacant suites are second generation « show less
Highland Plaza is a 95,118 SF multi-tenant retail shopping center, located at 8530-8600 W. Brown Deer Road in Milwaukee, WI. The property is... show more »
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