Applebee's
5,058 SF | Retail Building | Paducah, KY 42001 | $2,483,113 ($491/SF) | 8% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,483,113
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail, Restaurant
- Square Feet
- 5,058 SF
- Price / Square Foot
- $491
Listing Contacts
Alejandro Snyder
Verified Profile
Michael Williams
Verified Profile
- Property Info
Property Overview
Current Real Estate Advisors is pleased to present the opportunity to acquire Applebee’s – Paducah, KY (the “Property”), a freestanding ±5,058 SF single-tenant building located on a 1.49 Acre lot in Paducah, KY. The Property will have an absolute NNN lease executed at COE with Zero Landlord responsibilities and can be acquired individually or as a portfolio (see Page 3).
This Sale-Leaseback offering includes a brand new 7.5 year lease with attractive 10% bumps every 5 years that will be signed at Closing. Further, the lease will also include 4, 5-year Options – demonstrating the operator’s commitment to the location.
Strong Operating History - The Tenant has successfully owned and operated these restaurant businesses for an average of 10+ years (along with a multitude of others), providing proof of concept for these locations
Secure + Steady Income Stream - Each location will benefit from a new Absolute NNN lease that will be signed at Closing, with Zero Landlord responsibilities, providing genuinely passive income
Robust RE Fundamentals - Located adjacent to I-24 (34,500+ VPD) with direct signage and visibility from the interstate, the Property sits less than a ½ mile from the Kentucky Oaks Mall (100+ Retailers in 1.3MM+ SF)
Attractive Yield - This Applebee’s asset provides an investor with a lucrative return on their capital investment, allowing the new owner to maximize their future cash flow and hedge against inflation
Ownership are proven operators that have successfully owned and managed dozens of Applebee’s locations (as well as Burger King, Pizza Hut, TGIF, and IHOPs). They have gained national recognition and have received various awards for their highly successful operating strategy (see Page 7).
This offering presents a unique opportunity for an astute investor to acquire strategically distributed real estate throughout the Midwest or to handpick their desired location(s) for individual acquisitions, from an assortment of assets with long-term stability and stable cash flow from a resilient operator.
This Sale-Leaseback offering includes a brand new 7.5 year lease with attractive 10% bumps every 5 years that will be signed at Closing. Further, the lease will also include 4, 5-year Options – demonstrating the operator’s commitment to the location.
Strong Operating History - The Tenant has successfully owned and operated these restaurant businesses for an average of 10+ years (along with a multitude of others), providing proof of concept for these locations
Secure + Steady Income Stream - Each location will benefit from a new Absolute NNN lease that will be signed at Closing, with Zero Landlord responsibilities, providing genuinely passive income
Robust RE Fundamentals - Located adjacent to I-24 (34,500+ VPD) with direct signage and visibility from the interstate, the Property sits less than a ½ mile from the Kentucky Oaks Mall (100+ Retailers in 1.3MM+ SF)
Attractive Yield - This Applebee’s asset provides an investor with a lucrative return on their capital investment, allowing the new owner to maximize their future cash flow and hedge against inflation
Ownership are proven operators that have successfully owned and managed dozens of Applebee’s locations (as well as Burger King, Pizza Hut, TGIF, and IHOPs). They have gained national recognition and have received various awards for their highly successful operating strategy (see Page 7).
This offering presents a unique opportunity for an astute investor to acquire strategically distributed real estate throughout the Midwest or to handpick their desired location(s) for individual acquisitions, from an assortment of assets with long-term stability and stable cash flow from a resilient operator.
Property Details
- Class
- B
- Year Built
- 1992
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 64,904 SF
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