Cap Rate
8.50%
Year Built
2000
Leasable Area
4,287 SF
NOI
$200,390
Property Type
Retail
LEAD LISTING AGENT
Blake Wagenseller
Associate
Email
[email protected]
License No.
02146707 (CA)
Direct
+1 (949) 209-8963
Mobile
+1 (858) 449-4864
ADDITIONAL LISTING AGENT
INVESTMENT HIGHLIGHTS:
- Absolute NNN Lease – There are zero landlord responsibilities or expenses, providing 100% passive income to the landlord.
- Strategically Located – The Applebee’s property is strategically located off S Centerville Road (Hwy 66) which sees ±17,600 cars per day and is on the state border line of Michigan and Indiana.
- Excellent Retail Synergy – The property is an outparcel to a Meijer and Walmart Supercenter and is located in a strong retail corridor with other national retailers that include Aldi, O’Reilly Auto Parts, Walgreens, Taco Bell, Wendy’s and McDonald’s to name a few.
- Strong Guarantee – The lease is backed by TSFR Apple Venture, LLC with over 60+ units under management in the state of Michigan. TSFR is one of Michigan’s largest multi-brand restaurant groups that also operate Wendy’s, Mod Pizza, and Olga’s Kitchen.
- National Tenant – Applebee’s Bar + Grill, a subsidiary of Dine Equity, INC. is one of the largest casual dining chains in the world with over 1,670 locations.
Broker of Record
- Kyle Matthews
- License No. 6505432273 (MI)
- (866) 889-0550
- Matthews Real Estate Investment Services
- 1600 West End,
Ste. 1500 Nashville, TN 37203