Applebee's
ABS NNN | Roanoke MSA | 7.00% Cap | Strong Op History
Marketing description
This Absolute NNN Applebee’s asset is an outparcel to Kroger anchored shopping center, Rocky Mount Marketplace, which has over 2MM visits per year, per Placer.ai. The property is less than 1/2 mile off Hwy 220 (27,000 VPD), a major thoroughfare from Roanoke to Martinsville. Applebee’s sits on a 1.32 acre lot with ample parking and is strategically placed in a main retail corridor near several national retailers including CVS, Kroger, Walmart, Holiday Inn, Starbucks, and more. The site is less than 1 mile from Rocky Mount Plaza, a 127,683 SF shopping center with numerous national retailers and is nearby multiple hotels with 130 rooms combined within a 3 mile radius. The property has excellent visibility and frontage on Old Franklin Turnpike with over 17,000 VPD.
This location has over 9,300 visits on average per month, per Placer.ai and is the only Applebee’s Restaurant within a 25-mile radius. It’s 40+ year brand operating history places it among the world’s largest casual dining brands with 1,600+ locations. Original 24-year lease in place with ±8 years remaining and four 5-year options.
Watch Property Video: https://vimeo.com/944718739?share=copy
Investment highlights
Absolute NNN Lease with No Landlord Responsibilities
Only Applebee’s Restaurant Within 25-Mile Radius
Less than 1/2 mile off Hwy 220 (27,000 VPD), a major thoroughfare from Roanoke to Martinsville
Over 9,300 Visits on Average per Month, per Placer.ai
Strategically Positioned at a Primary Crossroads, Located at the Center of Franklin County, Virginia
Among the World’s Largest Casual Dining Brands; 1,600+ Locations
40+ Year Brand Operating History
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