Winchester KY - Applebee's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Applebee’s investment property located in Winchester, Kentucky. The tenant, Applebee’s has over 8 years of term remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Applebee’s is located near the signalized, hard corner intersection of State Highway 60 and State Highway 1958 which combine to average over 43,000 vehicles passing by daily. State Highway 1958 is the major retail thoroughfare serving the city of Winchester. The Applebee’s is an outparcel to Winchester Plaza that also features national/credit tenants including Five Below, T.J. Maxx, Dollar Tree, Jersey Mike’s, and Sherwin-Williams. In addition, the asset is in close proximity to Kroger Plaza, a Kroger anchored center that also features national/credit tenants such as bealls, Goodwill, Cato Fashions, Sonic, Golden Corral, and others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s, Planet Fitness, Taco Bell, Starbucks, McDonald’s, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 30,300 residents and 14,750 employees with an average household income of $83,292.