BMO Harris Bank

209 Horicon Street, Mayville, WI 53050
$3,185,000
Status Sold
Price $3,185,000
Cap Rate 5.85%
NOI $186,259
Price/SF $385
Lease Type Absolute NNN
Lease Term 15 Years
Lease Start December 2015
Lease Expiration December 2030
Building Size 8,278 SF
Lot Size 54886 AC

Overview

Situated at the hard corner intersection of South John and Horicon streets, the building totals 8,278 square feet. With four points of ingress/egress, the site is afforded excellent visibility and accessibility. The 1.26 acre lot includes four drive-thrus and parking for 70 vehicles.

The property can be found near the south side of downtown Mayville. The city of Mayville is a charming community lined with numerous shops, boutiques, and businesses. Within a 5-mile radius, demographics include a population of approximately 10,000 residents. The branch has the largest market share and bank deposits in Mayville with 39% and of over $67 million, respectively. These figures and the length of the lease term are testaments to the long term success of this branch.

Mayville is home to several large manufacturing facilities, including plants operated by TAB Products, Mayville Products Corporation, Metalcraft, Mayville Engineering Company, Affiliated Products, RCI Engineering and Gleason Reel, a subsidiary of Hubbell Corporation. Dairy farming and other agricultural activities also comprise an important part of the local economy.