Investment Highlights
- 7.39 Acre Parcel Adjacent To The University Of Wisconsin Stevens Point
- 1.86 Acre Development Opportunity Just North Of Kmart Parcel
- Possible Future Redevelopment Of Kmart Building
- Newly Remodeled McDonalds Out Front Of Subject Property (Not Included)
- University Student Housing Just South Of Kmart Parcel (9,400+ Enrollment)
- Possible Outlot Development In Front Of Kmart (In Unused Parking Lot Space If Kmart Approves)
The investment consists of 7.39 acres between two separate parcels. The first is a 1.86-acre parcel that is just land with no improvements located just north of the Kmart parcel. The property is ready for development. The second parcel consists of 5.53 acres with a single tenant 87,329 square foot Kmart located on the site. They have been leasing the building since 1973 and recently just extended through 7/31/2021. The lease is structured as double net with tenant paying all taxes, insurance and common area maintenance. Landlord is responsible for roof, structure and parking lot repairs and maintenance. Kmart has eight-five year options left to extend.
Stevens Point is centrally located in the state on the Wisconsin River encompassing the intersection of Interstate 39 and State Highway 10 in Portage County. We are approximately 110 miles north of Madison, 250 miles northwest of Chicago, and 215 miles east of Minneapolis. The estimated population of Stevens Point is 26,717.