Sunnyside Shops - Madison, WI_Property for Sale

3902 E Washington Ave, Madison, WI, 53704, US

Sunnyside Shops - Madison, WI

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Sunnyside Shops (the “Property”) located at 3902-3908 E Washington Ave, in Madison, WI. The 14,400 SF retail asset is 100% leased and has a WALT of 4.5 years. The Property has strong average historical occupancy of nearly 15 years for all tenants and 20 years for the national tenants. The Property also features conservatives NNN rents and is ideally situated on a signalized intersection of US Route 151, which carries over 45,000 vehicles per day.

Madison is the state capital of Wisconsin, and the county seat of Dane County. With a population of 279,716, Madison is the second largest city in the state. Madison is home to the University of Wisconsin-Madison, which is the main educational and healthcare institution in the state. As of fall 2023, the University recorded an enrollment of nearly 50,000 students.

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Attributes

Asking Price

A$7,284,000

Building area Gross

1,338 m²

Occupancy

100.00%

Year built

1995

Cap Rate

6.75%

NOI

A$492,000

Media

Investment Highlights

STABLE RENT ROLL WITH CONSERVATIVE NNN RENTS

-The center is fully occupied by a diverse tenant mix, with the majority of the tenants being national credit

-The average historical occupancy of all national, credit tenants is 20 years

-All four tenants are on net leases, at replaceable rent rates, minimizing potential slippage in expenses and reducing lease rollover risk

NEW ROOF AND HIGH VISIBILITY, HIGH TRAFFIC INTERSECTION

-A new roof was recently installed on the property, protecting the asset for decades to come

-The property sits on a signalized intersection and benefits from a clear, unobstructed view from East Washington Avenue, carrying over 45,000 vehicles per day

RETAIL CORRIDOR HOME TO MULTIPLE TRAFFIC DRIVERS

-The property is directly across the street from two major grocers, ALDI and Hy-Vee

-Within a mile of the property sits East Towne Mall and various other national retailers such as Target, Home Depot, Best Buy, and more

MULTIPLE NEW DEVELOPMENTS IN THE IMMEDIATE AREA

-100+ units of apartments are under construction just across East Washington from the property

-Less than one mile to the north of the property is a new Cafe Zupas and Chapter Aesthetic in development and a recently opened Dave's Hot Chicken and Popeye's

-The adjacent Reindahl Park is undergoing major renovations and the addition of the proposed Imagination Center, a 16,000 sf library and community building expected to serve 26,000 residents annually