Velp Plaza | Retail & Fuel — Sale in Green Bay, WI
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Green Bay, WI 54303
- Year built: 1999
Photos
Investment Figures
- Cap rate
- 2.91%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present Velp Plaza, an exceptional redevelopment and value-add investment opportunity situated at the high-traffic intersection of US Highway 141 and Velp Avenue in the Village of Howard, Brown County, Wisconsin. Offered at $3,000,000, the property encompasses ±2.408 acres (±104,544 SF) of B-2 Highway Commercial-zoned land with ±19,227 SF of total building improvements across three structures: a gas station and convenience store building, a multi-tenant retail strip center, and the AquaJet Car Wash. The offering is fundamentally a land and redevelopment play anchored by irreplaceable US-141 highway frontage at one of the most trafficked intersections in the Green Bay metropolitan market. The gas station and c-store (±5,099 SF) sustained fire damage in 2022 and has been non-operational since, presenting an incoming petroleum operator or c-store developer with a rare opportunity to build a modern, purpose-built fuel and convenience concept from the ground up — while inheriting significant existing infrastructure, including 8 pump canopy positions, an 8,000-gallon UST, and a 15,000-gallon UST, that can meaningfully reduce site development capital requirements. Simultaneously, the ±12,000 SF strip center is partially occupied, with Suite D&E leased to Fantasies on a month-to-month basis at $63,312/yr, providing immediate cash flow to the acquiring owner. The remaining 9,000 SF across six suites represents a direct lease-up opportunity at market NNN rates. The AquaJet Car Wash (±2,128 SF) anchors the western end of the strip under an executed 5-year NNN lease with Cross Rhodes Properties LLC at $24,000/yr, adding a stabilized, hands-off income stream from day one. The property benefits from 87 surface parking spaces — a ratio of 5.91 spaces per 1,000 SF — reflecting the high-volume, drive-to retail nature of the asset. The site's position at the US-141 / Velp Avenue interchange represents one of the most dynamic commercial corridors in no
Market Context
This retail in Green Bay, WI is listed for sale. It is offered at an approximate 2.9% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1999. Compare it against other retail listings for sale in Green Bay, WI — view the full market.
Contact
- Omar Chehade · (817) 932-6105 · omar.chehade@marcusmillichap.com
- Jacob Luna · (817) 932-6156 · jacob.luna@marcusmillichap.com
- Ameer Adel · (817) 932-6175 · ameer.adel@marcusmillichap.com
- Todd Lindblom · (262) 364-1900
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