Listed by Matthews
$2,857,000
Applebee's
Details
Property Type Retail
Sub Type Restaurant
Square Footage 5,009
Cap Rate 7.00%
NOI $200,000
Occupancy 100%
Tenancy Single
Brand/Tenant Applebee's
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 04/30/2041
Remaining Term 15
Rent Bumps Yes
Lease Options Three, 5-Year Options
Acreage 1.030
Investment Type Net Lease
Ground Lease No
Ownership Fee Simple
Sale Condition N/A
Restaurant | 7.00% Cap Rate | 5,009 SqFt
Investment highlights
- Brand-New 15-Year ABS NNN Lease: Zero landlord responsibilities with built-in 10% rent increases every five years.
- Planned Remodel Investment: Tenant committed to a remodel, signaling high-conviction, long-term operational commitment.
- Three Additional Five-Year Options: Potential occupancy through 2056.
- High-Traffic Retail Corridor: Lee Jackson Highway (U.S. Route 11/250), Staunton's primary commercial artery with 14,320 VPD; proximity to I-81 captures transient and regional volume.
- Adjacent Redevelopment Upside: The former Staunton Mall (immediately adjacent) was acquired in 2021 for a large-scale mixed-use redevelopment featuring retail, flex, and residential components. This project is expected to meaningfully increase consumer traffic and density in the area.
- Established National Retail Synergy: Surrounded by Exxon, Starbucks, Tractor Supply, Red Lobster, and McDonald's.
- Dominant Casual Dining Brand: 1,600+ locations nationwide under Dine Brands Global (NYSE: DIN).
- Experienced Franchisee (Potomac Family Dining): Potomac Family Dining operates 50+ locations across five states and has been at this location for 30+ years.
- High-Conviction Commitment:: Brand-new 15-year ABS NNN lease plus active remodel investment demonstrates long-term dedication to this site.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$200,000.00
$16,666.67/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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