High-Performing Walgreens Investment
729 W Northland Ave Appleton, WI 54914
729 W Northland Ave, Appleton, WI, 54914
$5,291,139
For Sale
$5,291,139
Opportunity to purchase a Walgreens with an absolute NNN lease in Appleton, WI
Property Size14,490 SF
Lot Size1.87 Acres
Price / SF$365.16
AddedJan 24, 2025
Days on Market537
Last RefreshMar 16 at 9:06 am
Property Features for 729 W Northland Ave
General Information
- Standard status
- Active
- Property type
- Other retail properties, Individual retail properties, Retail properties & Spaces
- Size
- 14,490 SF
- Elevators
- N/A
- Lot size
- 1.87 Acres
- Net Operating Income
- $418,000
Building Details
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing agent Jacob (415) 269-2474
Listing office (415) 269-2474
Listing date Jan 24, 2025
Investment Insights
Based on property information with market context.
This investment opportunity features a Walgreens property located in Appleton, WI. The property includes a 14,490 square foot building on a 1.87-acre lot, complete with a drive-thru. This Walgreens location is a high-performing store nationwide. The property operates under an absolute NNN lease, which eliminates landlord responsibilities. The lease is corporately guaranteed by Walgreens (NASDAQ:WBA) and includes fifty years of options with a twelve-month cancellation right. Situated in Appleton, Wisconsin, the property benefits from its proximity to major retailers such as Kohl's, Aldi, McDonald's, and Starbucks, ensuring high visibility and consistent customer traffic. Appleton is the sixth-most populous city in Wisconsin and is part of the Fox Cities metropolitan area. The property's strong performance, secure lease terms, and prime location make it an attractive investment.
Key Highlights
- Absolute NNN Lease
- Zero Landlord Obligations
- High Performing Location - Massive Sales
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $274.7k | $18.96 |
| − Vacancy | −$7.1k | −$0.49 |
| EGI | $267.6k | $18.47 |
| − OpEx | −$80.3k | −$5.54 |
| NOI | $187.3k | $12.93 |
14,490 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.68M
$2.34M – $3.12M
NOI $187,311 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.66M
NOI $279,657 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
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FAQs
What type of property is this?
Other retail property - Opportunity to purchase a Walgreens with an absolute NNN lease in Appleton, WI
Where is this other retail property located?
The property is located at 729 W Northland Ave Appleton, WI.
What is the asking price?
The asking price for this property is $5,291,139.
What are key features of this property?
This property features: Absolute NNN Lease; Zero Landlord Obligations; High Performing Location - Massive Sales
