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Applebee’s

678 West 23rd Street, Panama City, Florida, USA
$3,409,456 6.25% Cap 4,997 sq ft Built 1993 Representative Photo Print This Page

Location

678 West 23rd Street, Panama City, Florida, USA

Price: $3,409,456
Cap Rate: 6.25%
Net Operating Income: $213,091
Square Footage: 4,997
Lot Size: 1.11 AC
Year Built: 1993

100% Fee Simple InterestAbsolute NNN LeaseAnnual IncreasesIncome Tax Free StateLocated on a Major Commercial ThoroughfareStrong and Experienced OperatorZero Landlord Obligations

The subject offering is an Applebee’s Grill + Bar. The assets is located in
Panama City, Florida. The absolute NNN leases will call for annual 1%
increases in rent. The lease also calls for two, 5-year options, with annual 1%
bumps in options.

The lease is owned by a strong and experienced operator. Neighborhood
Restaurant Partners currently owns and operates 119 neighborhood
Applebee’s.

Panama City is a city and the county seat of Bay County, Florida, United States.Located along U.S. Route 98, it is the largest city between Tallahassee and Pensacola. It is the more populated of two principal cities of the Panama City-Lynn Haven, Florida Metropolitan Statistical Area. As of the 2010 census, the population was 36,484.

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presented by

Kase Abusharkh Founding Principal View profile
Jacob Abusharkh Managing Principal View profile

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