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Applebee’s | Triple Net (NNN) Lease

$2,424,828

1396 Armory Drive, Franklin, VA 23851

Active
Last Updated: 03/30/2021

7.25

Cap Rate

175,800

NOI

Details:
Cap Rate:    7.25%
NOI:    $175,800
Building Size:    3,794 sqft
Lot Area:    1.7 acres
Lease Type:    Triple Net
Year Built:    2005
Price Per Sqft:    $639.12
Roof & Structure:    Tenant’s Responsibility
HVAC:    Tenant’s Responsibility
Repairs & Maintenance:    Tenant’s Responsibility
Highlights:
  • Long Term 18 Year Triple Net (NNN) Lease With Zero Landlord Responsibilities
  • Strong Franchise Guarantee From Potomac Family Dining Group, With 69 Locations Across 3 States
  • Strong Store Sales – Healthy Rent-to-Sales Ratio
  • Strategically Positioned as an Outparcel to a Walmart Supercenter and the Southampton Shopping Center Anchored By Belk and Food Lion
  • Located Along Armory Drive – the Main Retail Corridor of Franklin
  • Easy Access to Hwy 58 (Southampton Pkwy) – the East/West Corridor Into Emporia and Suffolk
  • Population of 22,081 Residents Making an Average Household Income of $67,052 Within a 10-Mile Radius
  • Franklin Lies in the Highly Agricultural Coastal Plain in SE Virginia; It’s Adjacent to the Blackwater River Which Has Been an Integral Part in the Development of the Town
  • Once a Railroad Hub of Commerce, the Railroad Depot Now Serves as the Heart of the Historic Downtown Area Which Includes Restaurants, Shops and Restored Vintage Homes
  • Nearby Tenants Include: Food Lion, McDonald’s, Walmart Supercenter, Shell, Huddle House, Tractor Supply Co, Walgreens, Burger King, Lowe’s, Love’s Travel Stop, Verizon, Belk, Wendy’s and More
Description:

We Are Pleased to Present For Sale the 3,794 SF Applebee’s at 1396 Armory Drive in Franklin, Virginia. This Opportunity Includes a Long Term 18 Year Triple Net (NNN) Lease With a Strong Franchise Guarantee From the Potomac Family Dining Group, 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

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