HIGH POINT COMMONS
The Offering: Cushman & Wakefield Boerke has been exclusively retained to market for sale this 100% occupied property, a 35,105-square foot retail center, freestanding bank and outlot, in Menomonee Falls, Wisconsin. Located on the corner of Silver Spring Drive and Lilly Road, this offering presents a unique opportunity to acquire an established retail property, located along a high traffic corridor with multiple value add opportunities.
The current average in place is $16.84 PSF, which falls below average when compared to similar product in the area. This represents an opportunity for new ownership to bring rents to market as leases roll thereby increasing the value to the asset.
Bank Five Nine is located on the corner of the parcel, with three (3) drive-thru’s and an ATM lane. Existing lease goes through 2024. Excellent visibility to Silver Spring Drive at the intersection with monument signage.
The center boasts internet resistant tenants including Anytime Fitness, Children of America, Subway, Scott’s Liquor Store, Surge Martial Arts, Great Clips and Children of America.
Located behind Bank Five Nine, and at the full intersection of Lilly Road, this 1.264 acre parcel is available for future development, and is included in the asking price.
TOTAL SIZE: 35,105 SF
ASKING PRICE: $8,150,000
CAP RATE: 7.154%
Address N56W14044-14192 Silver Spring Drive Menomonee Falls, WI
Building Size: 35,105 SF Combined
Lot Size: 1.2604 Acres 6.3293 | Acres 1.1538 | Acres 8.74235 Acres
Zoning: C-1 Neighborhood Business
Tax Key: MNGV0104984002 | MNFV0104984005| MNFV0104984003
Year Built: 2008
Parking: 167 Surface Stalls
Assessed Value (2021): $1,660,600 | $3,752,300 | $135,000 | $5,547,900 Combined
Taxes (2021): $26,235.96 | $59,371.26 | $2,138.28 | $87,745.50 Combined