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CONERSTONE MALL | MADISON, WI SUBMARKET

$3,287,000 | 7.25%

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2831 Parmenter Street
Middleton, Wisconsin 53562

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Features

  • 92 Percent Occupied with Net-Leased Tenants
    • Three Tenants have Annual Rental Increases
    • Opportunity to Add Value and Cap Rate Growth Through Leasing Remaining 1,500 Square Feet
    • Long Operating History | Advance America has Occupied Space Since 2005 and Middleton Travel has Occupied Space Since 2009
    • Low Rents | Averaging $14.53 per Square Foot
  • Situated on a Signalized, Hard-Corner Intersection of Parmenter Street and Donna Street | 12,600 Vehicles Passing per Day
  • Roughly a Quarter Mile to the Heavily Traveled Intersection of Highway 12 and Highway 14 | 71,400 Total Vehicles Passing per Day
  • Attractive Real Estate Fundamentals
    • Plentiful Parking | 60 Parking Spaces
    • Adjacent to the Middleton Police Department and Middleton Courthouse
    • Half a Mile to Middleton High School and Kromrey Middle School
  • Situated Amongst Many National Retailers, Hotels and Industrial Areas
    • Major Retailers in the Area Include Costco, Pick’n Save, NAPA Auto Parts, Anytime Fitness, McDonalds, Starbucks, World of Beer and More
    • 1.5 Miles to Greenway Station | Retailers Include DSW, World Market, Marshalls, Home Goods, Michaels, Biaggi’s, Bath and Body Works, Ancho and Agave, Guitar Center and Many More
    • 12 Hotels Within Two Miles of Subject Property Adjacent to Newly Constructed 40,000-Square Foot Office Building | Over 93 Percent Occupied
    • Many Proposed and New Construction Developments Within Minutes of Subject Property
    • TownePlace Suites (87 Hotel Rooms), Parmenter Center (40,000-Square Foot Office Building, 91 Percent Occupied), Proposed 200-Acre Mixed-Use Business Park, and Many More
  • Excellent Demographics | Anticipated Six Percent Growth Rate by 2025
    • 96,882 People Live Within Five Miles of Subject Property
    • Affluent Area with an Average Household Income of $128,968 Within Three Miles of the Subject Property
    • High Daytime Population | 138,029 People Work Within Five Miles of Subject Property

Contact

SEAN SHARKO
Senior Vice President Investments
Tel: (630) 570-2238
Sean.Sharko@marcusmillichap.com
* Broker of Record: Todd Lindblom

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