Medical Center with NN
New
For Sale
$1,100,000
1001 W Northland Avenue, Appleton, WI 54914
Veterinary facility on West Northland Avenue with an established healthcare use and tenant-paid operating responsibilities.
Property Size3,500 SF
Price / SF$314.29
Days on Market4
Property Features for 1001 W Northland Avenue
General Information
Standard status
Active
Size
3,500 SF
Net Operating Income
$96,139
Additional Details
Cap Rate
8.75%
Taxes and HOA fees
Annual Taxes
$5,238
Building Details
Tenancy
Single
Listing Agency:
GT Realty
Listed By:
Jesse Troestler
(920) 475-1562
Source:
Exprealty
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 17 at 2:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GT Realty
Investment Insights
Based on property information with market context.
The property is a 3,500-square-foot veterinary facility at 1001 W Northland Avenue in Appleton, Wisconsin. Blue River PetCare occupies the building under an NN lease, with responsibility for taxes, insurance, common area expenses, repairs and maintenance, HVAC, and utilities. The lease term currently runs through January 31, 2030.
Positioned on West Northland Avenue, the property benefits from reported exposure to more than 22,000 vehicles per day. The existing healthcare-oriented buildout provides a specialized setting for veterinary operations, while the current lease structure assigns a broad range of property operating obligations to the tenant. Blue River PetCare has provided notice of its intent to relocate to a larger facility at the end of the current term.
Positioned on West Northland Avenue, the property benefits from reported exposure to more than 22,000 vehicles per day. The existing healthcare-oriented buildout provides a specialized setting for veterinary operations, while the current lease structure assigns a broad range of property operating obligations to the tenant. Blue River PetCare has provided notice of its intent to relocate to a larger facility at the end of the current term.
Key Highlights
- 3,500 SF veterinary facility at 1001 W Northland Avenue
- NN lease runs through January 31, 2030
- 8.75% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,130
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,022,600
$1.0M
Cap Rate 7%
$730,429
$730.4K
Cap Rate 9%
$568,111
$568.1K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$91.1K $26.04/SF
− Vacancy
−$5.9K −$1.69/SF
EGI
$85.2K $24.35/SF
− OpEx
−$34.1K −$9.74/SF
NOI
$51.1K $14.61/SF
Area
Outagamie County, WI
Vacancy
6.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,022,600
Cap Rate 7%
$730,429
Cap Rate 9%
$568,111
Alternative Uses
Best Use
Healthcare Medical
$730.4K
$639.1K – $852.2K
NOI $51,130 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$965.0K
$844.4K – $1.13M
NOI $67,550 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
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Business Placement
Demographics for 54914, WI
31,082
Population
14,002
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
93%
High-School Grad
19.2 sq mi
ZIP Area
1,619
Density / Sq Mi
$77,199
Median Household Income
$42,481
Median Earnings
$936
Median Rent
$210,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Veterinary facility on West Northland Avenue with an established healthcare use and tenant-paid operating responsibilities.
Where is this medical center located?
The property is located at 1001 W Northland Avenue Appleton, WI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,500 SF veterinary facility at 1001 W Northland Avenue; NN lease runs through January 31, 2030; 8.75% cap rate
