116 Military AveGreen Bay, WI 54303

Property Details for 116 Military Ave

Lot size

2.05 AC

Property type

Drug stores

APN

6 235-B

APU

6235B

Description

This exceptional investment opportunity presents a fee-simple Walgreens located at 116 N Military Ave, Green Bay, WI 54303. The 14,409 square foot property sits on a 2.05-acre lot and boasts a strong operating history, evidenced by a recent 15-year lease extension through June 30, 2038. This absolute NNN lease provides zero landlord responsibilities and a substantial net operating income (NOI) of $240,098, resulting in a 6.75% cap rate. The property's exceptional performance is underscored by its ranking in the top 5% of all Walgreens nationwide, attracting over 551,200 visits in the past year—more than double its nearest competitor. Its prime location within three miles of Lambeau Field and a major retail corridor (6.7M SF within a three-mile radius) ensures consistent high traffic, further supported by the 23.4 million shoppers visiting nearby stores annually. Surrounding national retailers include Walmart, Sam's Club, Meijer, Menard's, and The Home Depot. Built in 2008, this Walgreens features a full-service drive-thru and benefits from high visibility along a road with over 50,000 vehicles per day and direct access to Interstate 41. The property is also part of a larger portfolio sale opportunity including four additional Walgreens locations. The asking price is $3,557,010.

• CAP approach

  CAP return

  Valuation

  6%

  $23,690,328

  6.5%

  $21,867,994

  7%

  $20,305,996

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,834,602

  Geo Method

  $29,295,840

• Alternative Use

  Use

  Valuation

  Residential

  $18,446,472

  Hospitality

  $16,896,868

  Educational

  $14,057,997

  Medical

  $14,541,473

  Retail

  $21,867,994

Location Insight

City

Green Bay

County

Brown

State

Wisconsin

Latitude

44.5304

Longitude

-88.0585

CBSA code

24580

CBSA name

GREEN BAY, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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