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Athens, WI

1200 Mount View Lane

Address:
1200 Mount View Lane, Athens, WI 54411
Property Type:
Single Tenant
Price:
$2,460,000
Cap Rate:
7.11% cap
NOI:
$174,996
Square Feet:
8,800 sqft
Lot Size:
12.57 Acres Plus 160 Additional Acres Of A Separate Parcel Non-Contiguous
Price Per Square Foot:
$279.55
Year Built:
2006
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • Property Sits in Close Proximity to Highway 97
  • 172.5 Acres for Future Development or Expansion Purposes
  • Absolute Net Lease with Zero Landlord Responsibilities
  • Personal Guarantee in Place with High Credit Personal Investors
  • Property and Land are Used by the Bushman Family for Jade Mining and Maple Sap Harvesting
  • Potential Buy-Out in 2028 Allows for Full Payment of Lease Plus $700,000, and Ability to Retain 52 Acres

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1200 Mount View Lane in Athens, Wisconsin, leased to Bushman Family, LLC. The subject property consists of approximately 8,800 square feet of space and is situated on 12.57 acres plus 160 additional acres of a separate non-contiguous parcels. The asset features close proximity to Highway 97 and surplus land for future development or expansion purposes. Bushman Family is signed to an absolute net lease with zero landlord responsibilities. The lease is accompanied by a personal guarantee that is backed by high credit personal investors. Furthermore, the lease includes provisions in 2028 for a full lease payout, a right-to-purchase at $700,000, and the buyer retainment of 52 acres of land.

Under Wisconsin Jade, LLC, the tenant operates the only nephrite jade quarry in the continental United States. The quarry holds 4.6 million cubic yards of nephrite jade, valued at $85.6 million. At current capacity, the mine produces 300,000 tons of crushed stone and 12,000 tons of dimensional stone each year. Thanks to low production costs, Wisconsin Jade sells several types of secondary products such as landscaping stone and road base under the company, Black Rock Custom Cutting & Stone.

The area of Wausau, Wisconsin was originally settled by lumbermen during the 19th century. With the help of the Wisconsin River, Wausau developed into a major producer of paper products. Today, the Wausau economy is a diverse market consisting of manufacturing, retail trade, healthcare, and finance. In 1983, an eight-block enclosed shopping mall was developed in downtown Wausau, and to this day, continues to be a successful shopping center that draws shoppers from around the region. In recent years, the city has entered into several highly successful private-public partnerships. These partnerships have transformed the skyscape and vistas of the downtown river’s edge. In addition, these projects have increased the tax base and employment in the community. Newer developments include the Dudley Tower, Eye Clinic of Wisconsin, Jefferson Street Inn, The Palladian, and the Wausau Benefits/Wipfli Building.

BROKER OF RECORD
TODD LINDBLOM
Wisconsin Broker of Record
13890 Bishops Drive, Suite 300
Brookfield, WI 53005
P: (262) 364-1964
Todd.Lindblom@MarcusMillichap.com
Lic #: 56163-90
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2022 Marcus & Millichap. All rights reserved. (Activity ID: ZAD0040105)