Broadway Square Shopping Center 1320 Broadway St N

Marcus & Millichap is pleased to offer this six-unit strip center for sale. Subject property is positioned in a strong retail area featuring many national and regional tenants such as Walgreen's, Taco Bell, Wendy's, Arby's Wendy's, Aldi, Dollar Tree, O'Reilly Automotive, Advance Auto, Dunkin Donuts, Fleet Farm, Maurice's, Perkins, Caribou Coffee, Starbucks, McDonald's, Dunham's Sports, Denny's and Applebee's. It is also located just under 2 miles to the University of Wisconsin-Stout.
Ideally situated on a hard corner, the subject property has easy access and great frontage to the main thoroughfare in a well-established retail corridor. The property has a strong mix of e-commerce resistant tenants. The leases are NNN allowing the new owner to hire a management company and enjoy passive income.
Property is currently 81% occupied providing substantial upside with a strong proforma cap rate well in the range of 9.5-10% with new tenants renting at $13 PSF. Three of the current tenants are well above $13 PSF for base rent, so the proforma cap rate would seem to be very achievable.
Located in the western part of Wisconsin, Menomonie is the county seat for Dunn County. It's located roughly 45 miles from the outskirts of the Minneapolis, MN Metro area just off Interstate 94.
Menomonie is considered a progressive community, with a thriving industrial base that includes 3M, Ford Motor Company, Wal-Mart Distribution Center, ConAgra Foods
- Swiss Miss, Cardinal FG, Andersen Windows, Phillips Plastics Corporation, and several other industrial facilities. Menomonie is privileged to have a state-of-the-art Hospital and Medical Center (which are part of the Mayo Health System), a beautiful Library overlooking the shores of Lake Menomin, an excellent K-12 school system,
and the Chippewa Valley Technical College.
The University of Wisconsin-Stout is also a valued member of our community. UW-Stout has an international reputation for its excellent degree programs in business, industry, technology, education, human development, and art and design. The Stout Technology Park offers a unique opportunity for businesses in the park to access the latest manufacturing strategies and technologies that will help solve problems and increase profits.