2803 Meade St Appleton, WI 54911-1507

Property Details for 2803 Meade St

Year built

1996

Lot size

1.48 lot acres

Property size

16,948 SF

Zone code

C2

Property type

Drug stores

APN

31-6-7601-00

APU

316760100

Description

This exceptional investment opportunity presents a freestanding Walgreens conveniently located at 2803 N Meade St, Appleton, WI 54911. The property boasts 16,933 square feet on a 1.48-acre lot, built in 2008. It's situated in a thriving medical hub, less than a mile from ThedaCare Regional Medical Center, a major employer with over 7,000 employees and 172 beds. The property also benefits from its proximity to Edenbrook Nursing Home and Rennes Health and Rehabilitation Center, totaling 238 beds. This strategic location ensures high foot traffic and consistent demand. The property is subject to an absolute NNN lease with Walgreens, expiring July 30, 2034, providing a remaining lease term of 9.7 years. The current annual net operating income (NOI) is $296,900, resulting in an attractive 8.00% cap rate. The asking price is $3,711,250. The surrounding 3-mile trade area showcases robust economic activity, with over 6.2 million square feet of retail space and 8.3 million square feet of industrial space, both exhibiting vacancy rates under 2.5%. Appleton, Wisconsin's 6th largest city, adds to the property's appeal, with a population exceeding 143,000 within a 5-mile radius. The property enjoys a highly visible location at a signalized intersection with a combined daily traffic count of 30,000 vehicles, and is conveniently close to Interstate 41, boasting a daily traffic count of 76,200 vehicles. This is a rare opportunity to acquire a strong-performing, net-leased Walgreens in a high-growth market.

Location Insight

City

Appleton

County

Outagamie

State

Wisconsin

Longitude

-88.3965

Latitude

44.2877

CBSA code

11540

CBSA name

APPLETON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments