Applebee’s (Don Chuy’s Sublease)
4,560 SF | Retail Building | Lees Summit, MO 64063 | $2,269,897 ($498/SF) | 7.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,269,897
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,560 SF
- Price / Square Foot
- $498
Listing Contacts
Doug Aronson
Verified Profile
Carter Wells
Verified Profile
- Property Info
Property Overview
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., in cooperation with Missouri broker Lane 4 Property Group, is pleased to exclusively present for sale, the property leased to Applebee’s with a direct sublease to Don Chuy’s Fresh Mex and Cantina.
Applebee’s is continuing to pay rent on its 17-year lease which expires on June 12, 2028. All lease terms in the original lease are backed by the Applebee’s franchisee (Apple Central KC, LLC) and remain in force until lease expiration. The Landlord will continue to get rent checks from Apple Central KC, LLC.
In June of 2021, Applebee’s entered into a sublease agreement with El Catrin, LLC which operates as Don Chuy’s Fresh Mex and Cantina. They have two stores with another in Knoxville, TN.
Applebee’s is continuing to pay rent on its 17-year lease which expires on June 12, 2028. All lease terms in the original lease are backed by the Applebee’s franchisee (Apple Central KC, LLC) and remain in force until lease expiration. The Landlord will continue to get rent checks from Apple Central KC, LLC.
In June of 2021, Applebee’s entered into a sublease agreement with El Catrin, LLC which operates as Don Chuy’s Fresh Mex and Cantina. They have two stores with another in Knoxville, TN.
Property Details
- Class
- B
- Year Built
- 1992
- Stories
- 1
- Lot Size (sq. ft)
- 53,143 SF
Highlights
- Absolute NNN lease
- Located across from Lee’s Summit High School (1,920 students).
- Fee simple ownership (Land & Building).
- Applebee’s franchisee’s continued guarantee on rent and other terms. Currently sublet to Don Chuy’s Fresh Mex and Cantina through June 11, 2028.
- Affluent demos (3-mile Avg HHI: $110,322)
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].