Largo, FL - Applebee's

Description:

• The tenant currently has 8+ years remaining on their initial lease with 6 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 1% annual rental increases during the initial term and options thereafter, growing NOI and hedging against inflation
• The lease is guaranteed by Neighborhood Restaurant Partners, a 100+ unit franchisee
• Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States and 47 company-operated U.S restaurants as of December 29, 2024

• The subject property is an outparcel to Bardmoor Promenade, a 170,000+ SF shopping plaza, that is anchored by Publix, Starbucks, Panera, and more
• The site is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Regions Bank, TD Bank, CVS, Dunkin’, & Shell
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The asset is in close proximity to Osceola Fundamental High School (1,715 students) and Osceola Middle School (1,009 students), further increasing consumer traffic to the immediate trade area