680 Southbridge St, Auburn, MA 01501

LONG TERM GROUND LEASE: Applebee’s has been at this location since 1999, originally on a 20-year ground lease. They have exercised the first two (2) of their 5-year options, demonstrating their commitment to the site and the market. Applebee’s currently has 3+ years remaining with two (2), 5-year renewal options remaining.

SCHEDULED RENT INCREASES: The lease calls for rent increases of 4.2% and 4% at the start of the first and second renewal options, respectively, providing a steady increase in income and an attractive hedge against inflation.

STRONG OPERATOR: Applebee’s is operated by Apple New England, LLC, owned by Apple American Group, the largest Applebee's franchisee, operating over 460 restaurants across 26 states. It is part of Flynn Restaurant Group, which operates over 3,000 units across several brands including Pizza Hut, Arby’s, Taco Bell, Wendy’s and Panera Bread, making it the largest restaurant franchisee in the US.

ZERO MANAGEMENT RESPONSIBILITIES: Applebee’s ground lease is Absolute NNN and requires zero management responsibilities. Applebee’s is responsible for all operating expenses, repairs, maintenance, and replacements to the entire property, making it an attractive investment for the passive real estate investor.

STRATEGIC RETAIL LOCATION: The Property is situated next to the signalized intersection of Southbridge Street with Faith Avenue and Goulding Drive along the area’s primary commercial corridor, benefiting from strong visibility, frontage, and convenient access in a well-established retail node. Applebee’s is strategically located near the interchange of Interstate 290 and the Massachusetts Turnpike (I- 90), providing excellent regional connectivity to Worcester, Boston, and surrounding Central Massachusetts communities. The immediate trade area features a strong concentration of national retailers and demand drivers, including BJ's Wholesale Club, Walmart Supercenter, and the nearby Auburn Mall, all of which generate consistent consumer traffic. The Property is also directly in the middle of Auburn’s Auto Mile, with numerous major brands that add to the traffic generated by the area’s retailers.

RETAIL TRADE AREA: Additional retailers driving traffic to the area include Walmart Supercenter, BJ’s Wholesale, Home Depot, TJ Maxx, CVS, O’Reilly Auto Parts, Wendy’s, Dunkin’, Cumberland Farms, NAPA Auto Parts, Enterprise Rent-A-Car, Domino’s, Friendly’s, D’Angelo’s, Jiffy Lube, 99 Restaurant, Taco Bell/KFC, Chili’s, Burger King, as well as many popular retailers and brands at the Auburn Mall Mall.

TRAFFIC COUNTS: More than 25,700 vehicles per day pass Applebee’s at the signalized intersection of Southbridge Street with Faith Avenue and Goulding Drive. The Property is next to the entry point of the I-90 and I-290 interchange, which see more than 102,100 and 80,100 vehicles per day, respectively.

DEMOGRAPHICS: Over 83,400 people live within a 5-mile radius of the Property with an average household income of $115,959. More than 364,200 people live within 10 miles of the Property with an average household income of $116,167.