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Property profile & analytics
FOR SALE
Drug stores
700 College Ave Appleton, WI 54914-5265
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US92-0750546
No photos on file
For Sale
Contact for pricing
700 College Ave, Appleton, WI 54914-5265
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2000
Total area
15,048 SF
Lot
1.82 ac (79,070 SF)
Zoning code
CBD
APN
31-5-1173-00
UPID
US92-0750546
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy
-
Walgreens Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.00M
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$2.81M
Owner & transaction history
Granite Peak Prop Invs LP · 8 yrs held
Granite Peak Prop Invs LP
since 2017
1 recorded transaction
Zoning & alternative use
CBD · Appleton, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended to provide a centrally located and readily accessible area that offers a wide variety of retail, service, financial, entertainment, governmental, and residential uses. A broad range of uses is permitted to reflect downtown role as a commercial, cultural and government center.
Zone name
Central Business District
General category
CIVIC_INSTITUTIONAL
Zone area
189.35 ac
Source
Realmo
Top alternative use upside
Restaurant
$2.8M
+35.5%
Auto repair, garage
$2.1M
+1.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Appleton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Appleton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,240,000
6.5%
$2,995,000
7%
$2,780,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,085,000
Current use
RESTAURANT
$2,825,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,105,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$1,975,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$1,820,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$2.81M
Range $2.53M – $3.09M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$187 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,078
Tax year 2023
Assessed value
$2,346,800
Assessed 2023
Previous assessed
$2,200,000
+6.7% YoY
Effective rate
1.62%
On assessed value
Assessed land
$937,500
Assessed improvement
$1,409,300
Land market value
$988,119
Improvement market value
$1,485,393
Total market value
$2,473,512
Applied tax rate
201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Sale
Year built
2000
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
15,048 SF
Lot
1.82 ac (79,070 SF)
Zoning code
CBD
APN
31-5-1173-00
UPID
US92-0750546
Jurisdiction
OUTAGAMIE
Zoning & alternative use
CBD · Appleton, WIZoning CBD · permitted uses
CBD · Appleton, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is intended to provide a centrally located and readily accessible area that offers a wide variety of retail, service, financial, entertainment, governmental, and residential uses. A broad range of uses is permitted to reflect downtown role as a commercial, cultural and government center.
Zone name
Central Business District
General category
CIVIC_INSTITUTIONAL
Zone area
189.35 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.8M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.82 ac
Current owner
From public records · entity-resolved
Granite Peak Prop Invs LP
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2017
$4,795,900
Granite Peak Prop Invs LP
Gni Of Appleton LLC
Grant Deed
related
$8,739,900 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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