What is the asking price for LensCrafters?

The lease rate for space here is Contact for pricing.

What type of property tenancy can you find at LensCrafters?

This property is listed as Single Tenant.

What is the total size of LensCrafters?

The property has a total square footage of 3,486 SF.

When was this property built?

LensCrafters was built in 2024.

How many parking spaces are available at LensCrafters?

Parking information for the property isn't currently listed. However, other nearby parking options include Culver's Parking, located 0.31 miles away , and Arby's Parking, which is 0.53 miles away.

4518 E Washington Ave, Madison, WI 53704

For Sale $2,890,000
Property Type Retail - Street Retail
Property Size 3,486 SF
Lot Size 0.65 Acre
Property Tenancy Single Tenant
Year Built 2024
Date Updated May 13, 2026

Description

Mid-America Real Estate – Wisconsin is pleased to offer for sale a newly constructed LensCrafters located at 4518 E. Washington Avenue in Madison, Wisconsin. This brand-new, 10-year NN lease is guaranteed by Luxottica of America Inc., a wholly owned subsidiary of EssilorLuxottica S.A. (S&P: A) — the world’s largest eyewear company and parent to iconic brands such as Ray-Ban, Oakley, and Sunglass Hut. The 3,486-square-foot freestanding building was completed in 2024 with a full tenant buildout, and benefits from minimal landlord responsibilities limited to roof and structure. Positioned along East Washington Avenue (US-151), Madison’s most active retail corridor, the property enjoys outstanding visibility and access, directly across from East Towne Mall, a regional destination drawing over 4.6 million visitors annually. The surrounding trade area features dense, affluent demographics — over 125,000 residents within a 5-mile radius with average household incomes exceeding $105,000. National retailers including Target, Walmart, Best Buy, and Chick-fil-A anchor the corridor, creating consistent traffic and retail synergy. This offering represents an opportunity to acquire a new construction, investment-grade asset leased to a global healthcare retail leader, providing long-term stability and predictable income growth through 10% rental escalations every five years.

Highlights

10% rental increases every 5 years, including option periods
Across from East Towne Mall and surrounded by Target, Walmart, McDonald’s, Starbucks, Chick-fil-A, and Portillo’s
Affluent & Dense Demographics
Attractive Pricing Metrics
Average household income: $107,694
Backed by an A-rated global company with over $26.5B in revenue and $107B market cap
Brand-New 10-Year NN Lease
Cap Rate: 6.00%
Commencing December 2024 with two (2) five-year renewal options
Corporate Guaranty – Luxottica of America, Inc. (EssilorLuxottica S.A.)
Healthcare-Driven Retail Use
High-Traffic Retail Corridor
Includes optometric services and lens lab, driving repeat customer traffic and stability
Landlord responsible only for roof and structure; tenant handles all operating expenses
Located along East Washington Avenue (US-151) with 38,700 VPD, near I-94 (109,000 VPD)
Modern 3,486 SF prototype with premium finishes and high-quality buildout
New 2024 Construction
Over 127,000 residents within 5 miles
Passive NN Structure
Price: $2,890,000