Plant City, 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 located directly across the street from Plant City Crossing, a 85,000+ SF, anchored by Publix, Dollar Tree, and AT&T
• The site is located in a dense retail corridor, with numerous nearby national/credit tenants including Chick-fil-A, Walgreens, Wawa, Dunkin’, Starbucks, CVS, Wendy’s and many more
• 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 South Florida Baptist Hospital (147 beds), Tomlin Middle School (1,499 students), and Bryan Plant City Elementary School (653 students) further increasing consumer traffic to the area