High-Performing Walgreens Investment
For Sale
$5,291,139
729 W Northland Ave, Appleton, WI 54914
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
Days on Market628
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
Listed By:
Jacob Abusharkh
(415) 269-2474
Added: Jan 24, 2025
Changed: Mar 16
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,311
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,746,220
$3.7M
Cap Rate 7%
$2,675,871
$2.7M
Cap Rate 9%
$2,081,233
$2.1M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$274.7K $18.96/SF
− Vacancy
−$7.1K −$0.49/SF
EGI
$267.6K $18.47/SF
− OpEx
−$80.3K −$5.54/SF
NOI
$187.3K $12.93/SF
Area
Outagamie County, WI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,746,220
Cap Rate 7%
$2,675,871
Cap Rate 9%
$2,081,233
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
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
