Applebee’s | Absolute Triple Net (NNN) Lease

$2,300,000

410 Old Mount Cross Road, Danville, VA 24540

For Sale

Retail Restaurant

Pending

Last Updated: 03/02/2021

Details:

Cap Rate: 7.76%

NOI: $178,526

Building Size: 4,750 sqft

Lot Area: 1.42 acres

Lease Type: Absolute Net

Year Built: 1994

Price Per Sqft: $485.23

Roof & Structure: Tenant’s Responsibility

HVAC: Tenant’s Responsibility

Repairs & Maintenance: Tenant’s Responsibility

Offered by

Adam Scherr

Agent

Sands Investment Group

Request Info to Unlock

Highlights:

16+ Years Remaining on a Long-Term Triple Net (NNN) Lease With Zero Landlord Responsibilities
Guarantee From Apple Investors Group, LLC, a 29-Unit Operator
Increases Throughout the Primary Term
Strategically Positioned Across the Street From the Danville Mall, With Tenants Such As: Sears, Belk, Red Lobster, Outback, Finishline
Located at a 4-Way Signalized Corner
Situated One Block From Coleman Marketplace Featuring Target, Home Depot, Dick’s Sporting Goods, Old Navy and Ross
Favorable Seller Financing Available Allowing a Potential Investor to Receive a Year 1 Cash on Cash Return of Nearly 13%
Population of 48,896 Residents Making an Average Household Income of $52,903 Within a 5-Mile Radius
New Caesars Casino With a 300 Four-Star Hotel Rooms, 35,000 SF Conference Space and a 2,500 Seat Live Entrainment Venue Under Construction Less Than 2 Miles Away
Danville is the Principal City of the Danville, Virginia Micropolitan Statistical Area – Population Approximately 105,000
Danville is Among the Top “25 World Class Communities” – Recognized By the Industry Week Magazine
Home to the Danville Braves a Minor League Baseball Team to the Atlanta Braves
Easy Access to Interstate 40 & 85, Making Danville Extremely Well-Suited to Reach Mid-Atlantic Markets and International Shipping Facilities
Located in South-Central Virginia Along the North Carolina Border
Nearby Tenants Include: Walmart Supercenter, Lowe’s, Sam’s Club, Toys ‘R Us, Olive Garden and Hobby Lobby

Description:

We Are Pleased to Present For Sale the 4,750 SF Applebee’s at 410 Old Mount Cross Road in Danville, Virginia. This Opportunity Includes 16+ Years Remaining on a Long-Term Year Absolute Triple Net (NNN) Lease That is Strategically Situated Along a Heavy Retail Corridor, Providing For a Secure Investment.

In Cooperation With:
Michael R. Katz, VA Lic # 0225059347 and FL Lic # BK3366474 of
REF Advisory, Inc. VA Lic # 02260228023 and FL Lic # CQ1051983
REF Advisory, Inc. Works With Prospective Virginia Resident Buyers