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Views: 84 DOM: 129 Updated: 09.15.24 Posted: 05.13.24 Status: Active

Summary

Price $3,125,000
Built/Renov 1994/2014
Tenant Applebee's
Cap Rate 7.17%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,298
Lease Start 04-24-2012
#Units 57
Price/SF $727.08
Expiration 04-30-2032
Tenant Type Casual Dining
NOI $224,006
R. Term 7.7
Ownership Fee Simple
Rent/SF $52.12
Increases 1.8%/1/yrs
Pop 5Mi 57,863
Lot/AC 0.92
Options 4/5yrs/1.25%
AHHI 5Mi $81,299

Lease Highlights

  • Applebee’s has been operating in this location for over 20 years
  • The tenant has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.75% increase during primary lease term and 1.25% increase in option periods 
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Green Apple, LLC (57 units backed)

Location Description

Applebee’s is strategically located at the signalized, hard corner intersection of Colony Parkway and Whiskey Road, the area’s busiest thoroughfares, with access to a combined daily traffic count of 22,400 vehicles. The property is situated as an outparcel to the recently renovated South Park Shopping Center, anchored by The Fresh Market and Party City. Additionally, it is ideally positioned...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Applebee's is a leader in the casual dining market. The chain was founded in 1980 in Decatur, GA, and focuses on a family-friendly atmosphere and signature bar and grill menu. Currently, there...


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Listing Broker

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