2001 Marathon Ave, Neenah, WI 54956

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 17.25 acres, the property underwent a transformative adaptive reuse conversion in 2023-2024, capitalizing on the growing demand for high-quality, affordable housing for seniors.

With a net operating income (NOI) of $930,000 and gross potential rents of $1,564,450, Marathon Flats offers investors a stable asset with a cap rate of 6.24%. The residential component is nearing 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, with upside potential in leasing the 2,902 SF vacant space.

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.