Newer Multi-Tenant Retail Investment With Upside | For Sale
Overview
Available for $1,700,000 (8% cap rate), this newer construction, multi-tenant retail property offers both stability and growth potential in Portage’s dominant retail corridor. Anchored by Arby’s and Shopko Optical, the 3-suite building provides reliable income from established national tenants. The third suite is currently vacant and delivered in grey-box condition, presenting a prime opportunity for additional NOI through lease-up or owner use.
Highlights
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Asking Price: $1,700,000 | Cap Rate: 8% (based on current income)
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Newer construction retail center with strong curb appeal
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Occupancy: 2 of 3 suites leased (Arby’s and Shopko Optical)
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Vacancy: 1 suite available for lease or owner-user (grey box)
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Strong co-tenancy: Surrounded by Walmart, Aldi, Tractor Supply Co., Culver's, Jimmy Johns, Subway, Burger King, Taco Bell, Festival Foods, McDonalds, Aspirus Divine Savior Hospital, BMO Harris Bank, US Bank, Walgreens, Auto Zone, Dollar Tree, Ace Hardware, Pet Supplies Plus, Game Stop, Anytime Fitness and Dunkin’/Baskin Robbins (under development adjacent)
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Excellent visibility & traffic counts along New Pinery Road (Hwy 51)
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Ample parking and convenient access to Interstate 39
Market & Growth Drivers
Portage’s primary commercial corridor continues to expand, attracting national retailers and quick-service brands. With long-term tenancy in place and new development directly adjacent, this location offers steady consumer traffic and lasting demand.
Investment Outlook
This property combines stable cash flow (from two national tenants) with clear upside potential via lease-up of the vacant suite. Offered at an 8% cap rate, it represents a rare chance to acquire a newer construction, multi-tenant retail asset in one of Portage’s strongest retail nodes.
