It’s up for auction, actually. Starting bid: $400,000. Details here.
The Sunrise Plaza is a 36,175-SF t multi-tenant retail shopping center, located at 2410-2430 10th Ave in South Milwaukee, WI. The property 57% leased to a mix of national and local tenants: Ace Hardware, Aurora Pharmacy, and Sunrise Restaurant. With roughly 43% vacant, there is significant upside opportunity for an investor. Several of the vacant spaces are ‘white-boxed’, allowing for minimal investment when re-tenanting. The site is located in the heart of South Milwaukee on 10th Ave off the intersection of Marquette Ave and Madison Ave, seeing over 25,000 VPD. Neighboring national tenants include; BMO Harris Bank, PyraMax Bank, Dollar General, Pick-N-Save, Walgreens, Planet Fitness, Subway, McDonalds, Dollar Tree, Aldi, among others. South Milwaukee is conveniently located 15 minutes away from Milwaukee, WI.
I’m pleased with the investment the current owner made in the property, after a decade of little to any investment.
I’m especially pleased to see the upgrades and long-term lease at Ace Hardware. This is the anchor the center needs. I’m hoping the next owner will build around that.