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DOM: 7 Updated: 06.25.25 Posted: 06.25.25 Status: Pending     06.25.25

Summary

Price $3,106,000
Built/Renov 2003
Tenant Applebee's
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 4
Lease Start 05-10-2010
#Units 1,642
Price/SF $0.00
Expiration 12-12-2034
Tenant Type Casual Dining
NOI $217,417
R. Term 9.5
Ownership Fee Simple
Rent/SF $54.02
Increases 10.0%/9/yrs
Pop 5Mi 14,104
Lot/AC 1.32
Options 4/5yrs/10%
AHHI 5Mi $65,132

Highlights

  • Lease features Four 5-year option periods with 10% rent increases
  • Only Applebee’s restaurant within a 25-mile radius
  • Over 40 years of brand operating history
  • Absolute NNN lease with no landlord responsibilities
  • Corporate-traded and highly rated

Location Description

Applebee's is strategically located along Old Franklin Turnpike (17,000 VPD) and easy access to major thoroughfares such as Highway 220 (27,000 VPD), School Board Road (4,400 VPD), and Bernard Road (3,300 VPD). Located at Rocky Mount Marketplace—a Kroger-anchored shopping center with over 2 million annual visits, according to Placer.ai—the 1.32-acre outparcel offers ample parking and is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Applebee's Neighborhood Grill + Bar is a leading casual dining restaurant chain known for its family-friendly atmosphere and a diverse menu of classic American dishes. It operates...


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Listing Broker

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