Grand Plaza Shops | Dense Retail Trade Area
3470 College Ave., Appleton, WI 54914
Price: $2,105,000
Status: Sold
Cap Rate: 6.55%
Year Built: 2006
NOI: $137,803
Lot Size: 1.41 acres
Price Per Foot: $317
Lease Type: Triple-Net (NNN)
Remaining Term: 5-10
GLA: 6,634 sqft
Property Intro
Lee & Associates and Galway Companies Inc. (WI. Broker’s License 938613-91) are pleased to present to qualified investors, the opportunity to acquire The Grand Plaza Shops, a two-tenant strip center located in Appleton, Wisconsin (“The Property”).
The property is leased to Denny’s and AZ Tobacco on triple-net (NNN) leases. The subject Property is leased to Gills Food Appleton, Inc. dba Denny’s. Gills Food is a highly respected Denny’s operator who operates roughly 37 Denny’s locations in Wisconsin, New York, Pennsylvania, Iowa, and California.This store has been successfully operating at this location for over 10 years.
Denny’s recently exercised their first of (3)-5-year renewal options taking their lease through October 2027. AZ Tobacco NNN lease runs through November 2026. Both Denny’s and AZ Tobacco have personally guaranteed their leases, giving a future investor some recourse, if a tenant were to default.
The subject property resides as a pad site within the Grand Plaza shopping center with attractive co-tenants such as Starbucks, Panera, and Aspen Dental. Grand Plaza Shops resides in a dense retail trade area with frontage and along College Avenue and a monument sign. The subject property is less than a half-mile from the on/off ramp to Interstate 41, providing ideal traffic flow to the property.