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Views: 105 DOM: 192 Updated: 10.31.24 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 7.5
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 lease | 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,761 33,180 58,964
2024 Total Population : 4,801 32,551 57,850
2024 Employed Civilian Pop : 2,211 14,036 24,237
2024 Total Businesses : 242 1,827 2,508
2024 Average Household Income : $ 106,450 $ 107,299 $ 104,477
2024 Total Consumer Spending : $ 219 M $ 1387 M $ 2302 M
2024 Median Age : 44 47 45
2024 Total Households : 2,343 14,715 25,043
2024 Pop Age 25+: Bachelor's Degree : 1,112 6,729 10,670
2024 Average Home Value : $ 361,371 $ 344,667 $ 318,404
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hitchcock Drive Evans Rd 2022 750 0.19 mi
Barnard Avenue Southeast Calhoun Pl 2022 400 0.46 mi
Whiskey Road Whiskey Rd 2021 16,600 0.47 mi
Silver Bluff Road Williams Dr 2021 10,600 0.59 mi
Silver Bluff Road Smallridge St 2022 11,000 0.59 mi
Two Notch Road Southeast Henry St 2022 1,850 0.60 mi
Whiskey Rd Taylor St 2010 15,400 0.71 mi
Evans Road Lynwood Dr 2022 750 0.75 mi
Pine Log Road Pawnee St 2022 22,900 0.90 mi
Pine Log Road Fore St 2021 22,600 0.90 mi

Listing Broker

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