1501 N Broadway St · Menomonie, WI 54751 · Dollar / Discount
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Brand New 10-Year Five Below (NASDAQ: “FIVE”) Lease
-Grand Opening was October 10
-Seller Invested over $1.1m in Buildout for Five Below & in New Nail Spa Space
100 % Occupied & Fully Stabilized 130,000sf Neighborhood Center
-Zero Lease Rollover until at least 2027
-80% of the GLA is leased until at least 2033
Shadow Anchors McDonald’s, Starbucks & Taco Bell
-McDonald’s Ranks Top 18% Nationwide (placer.ai)
-Taco Bell Ranks Top 25 % Nationwide (placer.ai)
Offered Well Below Replacement Cost at $83psf
-Seller has Invested over $2.5m in Tenant Buildouts in last Two Years
Streamlined Reimbursements with No Year-End Reconciliation Obligations
-Clean and Fully Retained Income Stream
-Supports a Consistent and more Predictable Cash Flow
Menomonie is a College Town
-Home to the University of Wisconsin-Stout Campus (6,900+ Enrollment)
-124 Acre Campus with 25 Major Academic Buildings & 9 Residence Halls
Recent High-Impact Cap-Ex Enhancements
-Fresh Paint Job on Entire Facility & New Landscaping
-Front Main Lot Rehab & New Parking Lot Lights
-Monument Sign Rehab with New LED Backed Lighting
New Roof in 2017
-20 Year GAF Everguard Warranty
Marcus & Millichap is pleased to present the Starbucks & McDonald’s Shadow Center located in Menomonie, Wisconsin.
This 130,000-square-foot neighborhood shopping center offers investors a fully stabilized, 100% occupied asset anchored by a brand-new 10-year Five Below lease (NASDAQ: “FIVE”), which opened in October following over $1.1 million in tenant buildout improvements. The center benefits from zero lease rollover until at least 2027, with 80% of the gross leasable area committed through 2033, providing long-term income stability. Shadow-anchored by national retailers including McDonald’s, Starbucks, and Taco Bell—each ranking among the top-performing locations nationwide—the property combines durable tenancy with exceptional consumer draw. Offered well below replacement cost at approximately $83 per square foot, the asset has seen more than $2.5 million in tenant improvements over the past two years and features streamlined reimbursements with no year-end reconciliations, ensuring predictable cash flow. Recent capital expenditures include new landscaping, parking lot upgrades, monument signage with LED lighting, and a 2017 roof under a 20-year GAF Everguard warranty.
Menomonie, Wisconsin, is a dynamic college town and the home of the University of Wisconsin–Stout, a 124-acre campus with over 6,900 students, 25 major academic buildings, and nine residence halls. The university serves as a stable economic engine, driving consistent retail demand and strong daytime traffic. Positioned in a thriving regional trade area with established national brands and continued community investment, Menomonie offers a balanced mix of education, employment, and consumer spending power. The city’s steady growth and university influence create an enduring foundation for retail tenancy and make this center a compelling opportunity for investors seeking reliable income in a proven Midwestern market.
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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.