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Marathon Flats 2001 Marathon St 63 Unit Apartment Building $21,189,276 CAD ($336,338 CAD/Unit) 6.24% Cap Rate Neenah, WI 54956
Investment Highlights
- Newly Redeveloped
- Strategically Located
Executive Summary
Park Place Holdings is pleased to present an outstanding opportunity to acquire Marathon Flats, a premier 55+ apartment community with two additional commercial spaces in Neenah, Wisconsin.
This newly redeveloped 55+ multi-family community offers 61 fully renovated apartment units, 42 storage units, 56 garages, and two commercial spaces, including a long-term lease with Kimberly-Clark.
Positioned on 10.41 acres, the property underwent a transformative adaptive reuse conversion in 2023-2024, capitalizing on the growing demand for high-quality, affordable housing for seniors. The excess land allows for future development of additional units, ask for details.
With a net operating income (NOI) of $966,600 and gross potential rents of $1,564,450, Marathon Flats offers investors a stable asset with the residential component is at full occupancy, reflecting strong demand for well-appointed, age-restricted living options in the Fox Cities market. Additionally, the 46,937 SF lease with Kimberly-Clark provides steady commercial income.
Strategically located just minutes from downtown Neenah and Highway 41, Marathon Flats offers exceptional accessibility while benefiting from a thriving regional economy. With its strong income potential, diversified revenue streams, and significant land for future development, Marathon Flats presents an outstanding investment opportunity in a rapidly evolving market.
Call Mason Clark at (608) 399-5123 or email mason@parkplace-holdings.com
This newly redeveloped 55+ multi-family community offers 61 fully renovated apartment units, 42 storage units, 56 garages, and two commercial spaces, including a long-term lease with Kimberly-Clark.
Positioned on 10.41 acres, the property underwent a transformative adaptive reuse conversion in 2023-2024, capitalizing on the growing demand for high-quality, affordable housing for seniors. The excess land allows for future development of additional units, ask for details.
With a net operating income (NOI) of $966,600 and gross potential rents of $1,564,450, Marathon Flats offers investors a stable asset with the residential component is at full occupancy, reflecting strong demand for well-appointed, age-restricted living options in the Fox Cities market. Additionally, the 46,937 SF lease with Kimberly-Clark provides steady commercial income.
Strategically located just minutes from downtown Neenah and Highway 41, Marathon Flats offers exceptional accessibility while benefiting from a thriving regional economy. With its strong income potential, diversified revenue streams, and significant land for future development, Marathon Flats presents an outstanding investment opportunity in a rapidly evolving market.
Call Mason Clark at (608) 399-5123 or email mason@parkplace-holdings.com
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $21,189,276 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $336,338 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 10.41 AC |
| Cap Rate | 6.24% | Building Size | 148,000 SF |
| No. Units | 63 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | ||
| Zoning | I2 - general | ||
| Price | $21,189,276 CAD |
| Price Per Unit | $336,338 CAD |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| No. Units | 63 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 10.41 AC |
| Building Size | 148,000 SF |
| No. Stories | 1 |
| Year Built | 2023 |
| Zoning | I2 - general |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Fitness Center
- Grill
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 474 - 802 |
| 1+1 | 29 | - | 677 - 1,030 |
| 2+1 | 4 | - | 982 - 988 |
| 2+2 | 19 | - | 897 - 1,168 |
Property Taxes
| Parcel Number | 02-0580-0000 | Improvements Assessment | $8,143,222 CAD (2024) |
| Land Assessment | $761,547 CAD (2024) | Total Assessment | $8,904,769 CAD (2024) |
Property Taxes
Parcel Number
02-0580-0000
Land Assessment
$761,547 CAD (2024)
Improvements Assessment
$8,143,222 CAD (2024)
Total Assessment
$8,904,769 CAD (2024)
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Marathon Flats | 2001 Marathon St
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