Applebee’s

• List price of $1,688,441 yielding an attractive 7.32% cap rate.
• Extremely healthy 6.06% rent to sale ratio. Contact broker for more details.
• Just over 3 years of term remaining, plus three 5-year options extending to 2044, with 1% annual rental increases throughout and percentage rent of 6% over a $2,200,000 breakpoint providing additional upside as store sales grow.
• Absolute NNN lease with zero landlord responsibilities, offering investors a perfectly hands-off, passive investment opportunity.
• At $26.00/SF the current rent level is meaningfully below replacement cost.
• Tenant has already exercised their first option to extend showcasing their dedication to the site.
• Lease guaranteed by RMH Franchise Holdings, one of the largest Applebee’s franchisees nationally with 130+ locations across 14 states. RMH is owned by Apple Sun LLC, an affiliate of Sun Holdings — the third-largest restaurant franchise in the country with 1,800+ locations.
• Located in the primary retail corridor in town along W North Street, which sees over 16,684 VPD, surrounded by a dense concentration of national retailers including Walmart, Rural King, Tractor Supply Co., Kroger, Dollar Tree, Taco Bell, Burger King, Speedway & more.
• Kendallville sits 22 miles north of Fort Wayne, IN (metro population of over 270,000).
• Immediate trade area anchored by major employment drivers including Parkview Noble Hospital, Lutheran Life Villages senior living campus, the Hendrickson distribution center, and manufacturing operations for MidWest Metals, Silgan Plastics, and Viking Plastics.