Applebee’s - Corp Guaranty | Percentage Rent | Abs NNN with 9.5+ Yrs of Term
$2,100,000
202 South Broadview Street, Cape Girardeau Township, MO 63703
6.51
Cap Rate
136,787
NOI
Details:
Highlights:
- Strong Operating History - this location has been operational and consistently successful for 10+ Years, demonstrating strong historical performance and ultimately leading Applebee’s Corporate to designate it for direct operation and lease extension
- Secure + Steady Income Stream - benefits from an Absolute NNN Lease with zero landlord responsibilities and a Corporate Guaranty from Applebee’s (Dine Brands | NYSE: DIN)
- Robust RE Fundamentals - located right off I-55 (100 Miles from St. Louis) along a major retail corridor and just blocks from West Park Mall (500K+ SF), with a plethora of national, regional, and local retailers in the immediate area
- Attractive Upside - the initiation of Percentage Rent at the start of Year 3 offers a compelling opportunity for meaningful future upside and revenue participation, driven by the sustained success of this location
Description:
Current Real Estate Advisors is pleased to present the opportunity to acquire Applebee’s – Cape Girardeau (the “Property”), a freestanding ±5,396 SF single-tenant building situated on a 1.41-acre parcel in Cape Girardeau, MO.
In November 2024, Applebee’s Corporate assumed operations and executed a brand new Absolute NNN 10-year lease, underscoring their confidence in the location and its strong performance.
The lease is secured by a corporate guaranty from Applebee’s International, Inc., offering zero landlord responsibilities and featuring 2, 5-Year renewal options with 10% rent escalations at each renewal. Additionally, the lease includes a Percentage Rent provision beginning in Year 3, providing potential for substantially enhanced returns.
This rare Applebee’s Corporate backed location represents a compelling opportunity for investors seeking stable, reliable cash flow from a well-established, publicly traded tenant. With strong real estate fundamentals, this offering provides immediate security and a rare prospect for meaningful future upside.
Documents:
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Offering Memorandum
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Location
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