Single-Tenant Walgreens NNN
For Sale
Contact for pricing
201 S Main St, Clintonville, WI 54929
Walgreens operates the 13,650-square-foot building under a long-term absolute NNN lease.
Property Size13,650 SF
Price / SF$222.22
Days on Market148
Property Features for 201 S Main St
General Information
Standard status
Active
Size
13,650 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$273,000
Building Details
Year Built
2011
Buildings
1
Tenancy
Single
Listing Agency:
Northmarq - Chicago
(312) 858-6725
Listed By:
Christian Tremblay · License #475165868
Source:
Crexi
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 31 at 5:38PM
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 Northmarq - Chicago
Investment Insights
Based on property information with market context.
Built in 2011, the 13,650-square-foot property is occupied by Walgreens as its sole tenant. The building is operated under a long-term absolute NNN lease, with the lease structure placing landlord responsibilities with the tenant.
The property is located at 201 S Main St in Clintonville, Wisconsin. Its single-tenant configuration and established retail occupancy provide a straightforward ownership profile for an investor seeking a leased commercial asset.
The property is located at 201 S Main St in Clintonville, Wisconsin. Its single-tenant configuration and established retail occupancy provide a straightforward ownership profile for an investor seeking a leased commercial asset.
Key Highlights
- Walgreens is the sole tenant
- 13,650‑square‑foot building
- Built in 2011
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
$99,314
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
3.27%
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%
$1,986,280
$2.0M
Cap Rate 7%
$1,418,771
$1.4M
Cap Rate 9%
$1,103,489
$1.1M
Market Conditions
NOI Build-Up for 13,650 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
$136.0K $9.96/SF
− Vacancy
−$3.5K −$0.26/SF
EGI
$132.4K $9.70/SF
− OpEx
−$33.1K −$2.43/SF
NOI
$99.3K $7.28/SF
Area
Waupaca County, WI
Vacancy
2.60%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,986,280
Cap Rate 7%
$1,418,771
Cap Rate 9%
$1,103,489
Alternative Uses
Best Use
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,314 @ 7.0% cap · market cap 3.27%
Second Best
Retail
$1.32M
$1.16M – $1.54M
NOI $92,693 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $178,976 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
79k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 42%
Kwik Trip
Shops & Services
33,177 visits/mo
0.1 miles
Culver's
Dining
12,218 visits/mo
0.2 miles
McDonald's
Dining
12,081 visits/mo
0.4 miles
A&W Restaurant
Dining
6,748 visits/mo
0.3 miles
Dollar General
Shops & Services
6,119 visits/mo
0.5 miles
Demographics for 54929, WI
8,724
Population
4,633
Households
1.9
Avg Household Size
46
Median Age
17%
College-Educated
90%
High-School Grad
122.3 sq mi
ZIP Area
71
Density / Sq Mi
$60,973
Median Household Income
$41,806
Median Earnings
$875
Median Rent
$157,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Walgreens operates the 13,650-square-foot building under a long-term absolute NNN lease.
Where is this nnn property located?
The property is located at 201 S Main St Clintonville, WI.
What is the asking price?
The asking price for this property is $3,033,333.
What are key features of this property?
This property features: Walgreens is the sole tenant; 13,650‑square‑foot building; Built in 2011
