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Views: 193 DOM: 567 Updated: 11.02.24 Posted: 05.04.23 Status: Active

Summary

Price $2,575,220
Built/Renov 2018
Tenant Aurora Health Center
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 4,540
Lease Start 09-17-2018
#Units 237
Price/SF $567.23
Expiration 09-30-2038
Tenant Type Medical/Health
NOI $173,827
R. Term 13.10
Ownership Fee Simple
Rent/SF $38.29
Increases 1.0%/1/yrs
Pop 5Mi 22,872
Lot/AC 1.70
Options 4/5yrs/1%
AHHI 5Mi $65,560

Lease Highlights

  • 2018 construction
  • Tenant has 13+ years remaining on the primary lease term with 4 (5-year) options to renew
  • Lease has favorable 1% annual rent increases
  • Aurora Bay Area Medical Group is part of Advocate Aurora Health, which is an investment grade tenant (S&P: AA)

Location Description

The 4,540-square-foot building is located along 10th Street (Hwy 41) which is a primary thoroughfare for the area and experiences over 18,900 vehicles per day. Retailers in the area include Burger King, True Value, Perkins, Little Caesars Pizza, Dollar General, A&W, Shell, McDonald’s, & Taco Bell. The property is also one mile from the Menominee-Marinette Regional Airport and across from the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Aurora Health Care is an integrated, not-for-profit health care provider serving communities throughout eastern Wisconsin and northern Illinois. Aurora got its start in 1984 when two established...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,148 18,583 22,510
2023 Total Population : 5,190 18,829 22,841
2023 Employed Civilian Pop : 2,560 8,658 10,429
2023 Total Businesses : 249 859 1,149
2023 Average Household Income : $ 68,058 $ 66,970 $ 68,284
2023 Total Consumer Spending : $ 157 M $ 518 M $ 639 M
2023 Median Age : 45 44 45
2023 Total Households : 2,605 8,720 10,559
2023 Pop Age 25+: Bachelor's Degree : 399 1,789 2,304
2023 Average Home Value : $ 137,001 $ 144,600 $ 153,331
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
10th St 23rd Ave 2015 18,900 0.14 mi
150 FEET N OF 18TH (IN MENOMINEE) Sheridan Cir 2021 69 0.27 mi
BETWEEN 20TH AND 21ST 20th Ave 2021 5,452 0.32 mi
US 41 26th Ave 2021 16,204 0.38 mi
BETWEEN 15TH AND 16TH (IN MENOMINEE) 16th St 2021 1,041 0.41 mi
US 41 30th Ave 2021 16,278 0.42 mi
18th Ave 17th Ave 2021 2,428 0.42 mi
BETWEEN 16TH AND 17TH (IN MENOMINEE) 16th St 2021 1,446 0.59 mi
BETWEEN 16TH AVE AND 17TH AVE (IN MENOMINEE) 14th St 2021 573 0.59 mi
23rd Ave 20th Ave 2021 991 0.60 mi

Listing Broker

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