Cap Rate: 7.00%
Net Operating Income: $989,464
Total Square Footage: 24,481 SF
Lease Type: NNN
Lease Term: 10 Years
Increases: 1% Annually
Applebee's Locations: Panama City Beach, FL, Panama City, FL, Albany, GA, Dothan, AL, Valdosta, GA
The subject offering is a five-asset portfolio of Applebee’s Grill + Bar. The assets are located throughout Northeast in: Panama City Beach, FL, Panama City, FL, Albany, GA, Valdosta, GA, and Dothan, AL. 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 leases are owned by a strong and experienced operator. Neighborhood Restaurant Partners currently owns and operates 119 neighborhood Applebee’s.
10071 Hutchison Boulevard Panama City Beach, FL
678 West 23rd Street Panama City, FL
3050 Ross Clark Circle Dothan, AL
637 Westover Boulevard, Albany, GA
1301 N. Saint Augustine Road Valdosta, GA