Property details
Lease Net, Southeast Region
Property Description
Lease net to the owner (NNN). This lease net site is an out-parcel to a Wal-Mart Supercenter and Sam's Club.
Applebees Neighborhood Grill and Bar is the largest casual dining concept in America both in terms of restaurant units and market share. Applebees restaurants offer a full service bar and feature a broad selection of entrees, including beef, chicken, pork, seafood and pasta items, as well as appetizers, salads, sandwiches and specialty desserts.
Images
Highlights
- Status:
- Sold
- Price:
- $2,622,726
- PSF:
- $518
- Cap Rate:
- 6.75%
- Annual Rent:
- $177,034
- Rent Increases:
- 1.50% increases beginning LeaseYear 2 and every LeaseYear thereafter
Property Information
- Building Size:
- 5,063 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Year Built:
- 1996
- Land Area:
- 117,105 sq.ft.
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Applebee's
- Lease Type:
- NNN
- Lease Commencement:
- 7/30/2007
- Lease Expiration:
- 7/31/2027
- Lease Term:
- 20 years
- Years Remaining:
- 19 years
- Landlord Responsibilities:
- None - lease net
- Options:
- Four 5-Year Options
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.