1200 Mount View Lane
- 1200 Mount View Lane, Athens, WI 54411
- Property Type:
- Single Tenant
- Cap Rate:
- 6.50% cap
- Square Feet:
- 8,800 sqft
- Lot Size:
- 12.57 Acres Plus 160 Additional Acres Of A Separate Parcel Non-Contiguous
- Price Per Square Foot:
- Year Built:
- 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
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.