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Roger Aubert Acquires Retail Property In Kenosha, WI For $2.175M

Property Image
SOLD
$2,175,000

Wisconsin

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Retail4,755 SF
Sold 12/31/2021
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Property Image
SOLD

Roger Aubert Acquires Retail Property In Kenosha, WI For $2.175M

7535 Pershing Boulevard, Kenosha, Wisconsin 53142, United States

See Similar Deals
Retail4,755 SF
Sold 12/31/2021
the dealplayerscompscontact
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Summary

WISCONSIN
Asset Type:Retail
Price Per Square Foot:$457
Total Square Footage:4,755 SF
Transaction Type:Sale

The retail property located at 7535 Pershing Boulevard in Kenosha, WI has been sold. The transaction was completed on 12/31/2021, with a sale price of $2,175,000. The property spans 4,755 square feet, resulting in a price per square foot of $457. The buyer of the property is Roger Aubert, while Ivy Properties served as the seller. The broker representing the deal was Asher Wenig from the Stan Johnson Company.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,175,000
  • Address: 7535 Pershing Boulevard, Kenosha, WI
  • Market: Kenosha, WI
  • Buyer: Roger Aubert
  • Seller: Ivy Properties
  • Broker: Asher Wenig - Stan Johnson Company

The property features a 1.0 percent + CPI annual increase lease structure, making it an attractive investment opportunity. It traded at a good 100 basis points below the average BMO Harris net lease bank, further highlighting its desirability in the market.

Players

Asher Wenig
Stan Johnson Company
Asher Wenig
4 deals$23.1M volume(646) 845-8415
BROKER
IP
Ivy Properties
SELLER

Details

SOLD
IMAGE: Asher Wenig DATE: 12/31/2021 ADDRESS: 7535 Pershing Boulevard MARKET: Kenosha, WI ASSET TYPE: Retail BUYER: Roger Aubert SELLER: Ivy Properties BROKER: Asher Wenig (@AshWenig) - Stan Johnson Company ASKING PRICE: $2,297,500 SALE PRICE: $2,175,000 SF: 4,755 ~ PPSF: $457 CAP RATE: 4.75% NOTE FROM BROKER: The lease features a 1.0 percent + CPI annual increase structure, making this asset a highly sought-after investment opportunity, and it’s why it traded at a good 100 basis points below the average BMO Harris net lease bank.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$115,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,727.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,310.61
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