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Investment Highlights
- STARTING BID $75,000 | $31,950 NOI | AUCTION NOVEMBER 14-16, 2022
- Single-Tenant, Absolute NNN Asset Occupied by LoanMax Title Loans Since 2012
- LoanMax Title Loans and Affiliated Companies Operate in More Than Twenty States Nationwide
- Nearby National Retailers include Walmart, Lowe’s, TJ Maxx, Kohl’s, Aldi, Hobby Lobby, and more
- Off I-43 Which Connects Manitowoc to Green Bay and Milwaukee | Signalized Intersection with Traffic Counts Exceeding 18,700 VPD
- Average Annual Household Income Exceeds $68,000 Within a Five-Mile Radius
Investment Overview
Marcus & Millichap and RI Marketplace are pleased to present a ±3,082 square-foot building 100% occupied by LoanMax Title Loans (the “Property”) located at 3501 Calumet Avenue in Manitowoc, Wisconsin. The Property offers an investor the opportunity to acquire an absolute triple net asset with no management responsibility, from a nationally recognized tenant paying below market rent.
The Property is located on a major retail corridor with ±18,700 vehicles per day alongside nationally recognized tenants such as Walmart Supercenter, Lowe’s, TJ Maxx, Kohl’s, Planet Fitness, Aldi, Petco, Hobby Lobby, Harbor Freight Tools, Wells Fargo, Advance Auto Parts, Starbucks, Panera Bread, McDonald’s, Applebee’s, Verizon Wireless, and many more. The tenant has occupied the property since March 12, 2012, showing a strong commitment to the site. The lease runs through April 30, 2024 and offers investors the opportunity to renew at market rates or re-tenant the premise. Founded in 1990, Northeastern Title Loans (dba LoanMax Title Loans) and its affiliated companies operate in more than twenty states nationwide.
The county seat of Manitowoc County, Manitowoc is a thriving and prosperous community located on Lake Michigan at the mouth of the Manitowoc River. The city is known as Wisconsin’s Maritime Capitol, as it is recognized worldwide as the manufacturer of spectacular yachts and is the sole Wisconsin port for the S.S. Badger, the only upscale passenger vessel still sailing on the Great Lakes. The subject property is 40 miles south of Green Bay and 79 miles north of Milwaukee. The Property serves a trade area that benefits from strong demographics with a population of 35,741 residents and an average household income of $68,747 within a 5-mile radius.
