7341 W Towne Way | Madison, WI 53719
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7341 W Towne Way
Madison, WI 53719
OfficeMax - Single Tenant Net Lease · Retail Property For Sale
Investment Highlights
- Value-Add Opportunity
- NNN Lease - Minimal Landlord Responsibility
- Priced below assessed value
Executive Summary
Single Tenant Net Lease opportunity. For more info go to: www.officemaxmadison-cbre.com
Junior box well positioned within the WestTowne Mall development. The West Towne Mall boasts 112 stores and an annual visitor count of over 8 million people. The regional mall anchors include Dick’s Sporting Goods, JCPenny,
Cheesecake Factory, and the newly opened Von Maur department store
LEASE RENEWED Office Max just extended their lease for an
additional 5 years beginning on February 1, 2023, which shows its commitment to the area. Triple Net Lease with Landlord
responsible for roof and structure.
VALUE-ADD OPPORTUNITY: Current lease rate is below market. Landlord can terminate the lease with proper notice and replace it with a higher rate.
Junior box well positioned within the WestTowne Mall development. The West Towne Mall boasts 112 stores and an annual visitor count of over 8 million people. The regional mall anchors include Dick’s Sporting Goods, JCPenny,
Cheesecake Factory, and the newly opened Von Maur department store
LEASE RENEWED Office Max just extended their lease for an
additional 5 years beginning on February 1, 2023, which shows its commitment to the area. Triple Net Lease with Landlord
responsible for roof and structure.
VALUE-ADD OPPORTUNITY: Current lease rate is below market. Landlord can terminate the lease with proper notice and replace it with a higher rate.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Building Size
25,072 SF
Building Class
B
Year Built
1992
Price
£2,003,750
Price Per SF
£80
Net Initial Yield
7.02%
NOI
£140,666
Tenancy
Single
Number of Floors
1
Loading Docks
2 Exterior
Building FAR
0.34
Lot Size
1.67 AC
Zoning
C3L
Parking
55 Spaces (2.19 Spaces per 1,000 SF Leased)
Frontage
204 ft on Towne Way
Amenities
- Bus Route
- Freeway Visibility
PROPERTY TAXES
| Parcel Number | 0708-261-0084-7 | Improvements Assessment | £1,940,271 |
| Land Assessment | £577,882 | Total Assessment | £2,518,153 |
PROPERTY TAXES
Parcel Number
0708-261-0084-7
Land Assessment
£577,882
Improvements Assessment
£1,940,271
Total Assessment
£2,518,153
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