2120 Northland Ave Appleton, WI 54914

Property Details for 2120 Northland Ave

Year built

1990

Construction

FRAME

Lot size

1.37 lot acres

Property size

3,672 SF

Zone code

C2

Property type

Commercial real estate

APN

31-1-6640-12

APU

311664012

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 625-square-foot Caribou Coffee "Cabin" in Appleton, Wisconsin. Built in 2024, this single-story building boasts a drive-thru and walk-up design, reflecting Caribou's innovative "Cabin" concept and its aggressive Midwest expansion. Located on a 0.63-acre lot at 2120 E Northland Ave, Appleton, WI 54911, this property benefits from high traffic flow near the intersection of E Northland Ave and N Ballard Rd, within the thriving Fox Cities Metropolitan Area. The property features a 10-year NNN lease with a strong tenant, Caribou Coffee, a dominant regional brand with a significant presence in Wisconsin. The lease includes attractive rent increases in year 6 and subsequent option periods. The property's Net Operating Income (NOI) is $116,000, yielding a 6.65% cap rate at an asking price of $1,745,000 ($2,792 per square foot). This represents a rare chance to acquire a high-performing, newly constructed asset backed by a well-established national brand within a robust market. The property is 100% occupied and benefits from the recent merger of Caribou Coffee with Panera Bread and Einstein Bros. Bagels, forming Panera Brands, a significant player in the food and beverage industry.

Location Insight

City

Appleton

County

Outagamie

State

Wisconsin

Longitude

-88.373

Latitude

44.2878

CBSA code

11540

CBSA name

APPLETON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments