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Restaurant

Applebee's

389 John Scott Hwy, Steubenville, OH 43952

Listing Price: $2,926,033

Cap Rate
6.15%
Tenant Name
Legacy Apple III
Years Remaining On Lease
15.3
Guarantor
Franchisee Guarantee
Rentable SF
4,544
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.60

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 389 John Scott Hwy in Steubenville, Ohio. The site consists of roughly 4,544 rentable square feet of building space on estimated 1.47-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is 179,951 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options. *Certain principals of the selling entity, including but not limited to Glen Kunofsky and Nicoletti DePaul, are Exclusive Listing Agents and part fee-simple owners of the property. See back page for full disclosure.

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $2,926,033

Cap Rate
6.15%
Tenant Name
Legacy Apple III
Years Remaining On Lease
15.3
Guarantor
Franchisee Guarantee
Rentable SF
4,544
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.60

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 389 John Scott Hwy in Steubenville, Ohio. The site consists of roughly 4,544 rentable square feet of building space on estimated 1.47-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is 179,951 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options. *Certain principals of the selling entity, including but not limited to Glen Kunofsky and Nicoletti DePaul, are Exclusive Listing Agents and part fee-simple owners of the property. See back page for full disclosure.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

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