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