Listed by Veritas Realty
$2,222,222
Applebee's
Details
Property Type Retail
Sub Type Bar, QSR/Fast Food
Square Footage 7,675
Cap Rate 6.3%
NOI $140,000
Occupancy 100%
Tenancy Single
Brand/Tenant Applebee's
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 02/29/2040
Remaining Term 13.7
Rent Bumps Yes
Lease Options Four 5-Year Options
Price per SqFt $290
Year Built 1991
Year Renovated 2025
Acreage 1.340
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 02/06/2025
Ground Lease No
Ownership Fee Simple
Retail | 6.30% CAP | 7,675 SqFt
Marketing description
Applebee’s (Flynn Restaurant Group) has signed a 15-year Absolute NNN lease, providing zero landlord responsibilities. Located in the county seat of Grant County, the property occupies a signalized hard-corner outlot to Walmart Supercenter and benefits from exceptional visibility, 25,697 ADT, and strong co-tenants including IHOP, Fazoli’s, Starbucks, and Taco Bell. After operating in Marion since 1995, Applebee’s relocated to this premier retail corridor, where the restaurant has performed exceptionally well since opening in March, further demonstrating the strength of the location and the brand’s long-term commitment to the market.
Listing Contacts
Listed by Veritas Realty
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$140,000.00
$11,666.67/mo
Valuation Metrics
0
DSCR
6.3%
Cap Rate
6.3%
ROI
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