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Restaurant

Applebee's | Absolute NNN Lease

3240 Towne Blvd, Middletown, OH 45044

Listing Price: $2,670,000

Cap Rate
6.95%
Tenant Name
Applebee's Grill + Bar
Years Remaining On Lease
10.1
Gross SF
5,335
Guarantor
Franchisee Guarantee
Rentable SF
5,335
Price/Gross SF
$500.47
Lease Type
Absolute Net
Rent Per Square Feet
$34.78

Investment Overview

10+ YEARS REMAINING | ABSOLUTE NNN LEASE
The subject property is a freestanding Applebee’s Grill + Bar restaurant operating under a long-term lease with just over 10-years remaining.
rmh FRANCHISE | 130+ Locations | 5,000+ Employees
The Applebee’s Grill + Bar property is operated by RMH Franchise Corporation(2) and guaranted by RMH Franchise Holdings, Inc.(1), which operates over 130 locations in 14 states across the U.S. The company is based in Dallas, TX and has over 5,000 employees.
WELL-ESTABLISHED restaurant | 4-way signalized corner
The subject Applebee’s Grill + Bar is well-established with over 29 years of operational history. It is situated at the 4-way signalized corner of Towne Boulevard (11,498 VPD) and Terhune Drive directly across from a Lowe’s and Kohl’s anchored shopping center.
RETAIL HUB LOCATION | NEAR INTERSTATE 75 (88,096 VPD)
The property is situated near Interstate 75, which provides direct access to Downtown Cincinnati. It’s surrounded by national retailers including Lowe’s, Kohl’s, Cracker Barrel, Olive Garden, Kroger Marketplace, Walmart Supercenter, Gabe’s Discount, Petco, Meijer, Dollar Tree, ALDI and many more. There are also a number of national hotel chains near the property including Drury Inn, Quality Inn, Fairfield Inn and more.
10% RENT INCREASES EVERY 5-YEARS
The lease offers landlord-friendly rent increases of 10% every 5-years during the primary term and at each of the 4, 5-year option periods.

Investment Highlights

  • 10+ YEARS REMAINING | ABSOLUTE NNN LEASE
  • RMH FRANCHISE | 130+ LOCATIONS | 5,000+ EMPLOYEES
  • WELL-ESTABLISHED RESTAURANT | 4-WAY SIGNALIZED CORNER
  • RETAIL HUB LOCATION ADJACENT TO LOWE'S-KOHL'S ANCHORED CENTER

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Restaurant

Applebee's | Absolute NNN Lease

Listing Price: $2,670,000

Cap Rate
6.95%
Tenant Name
Applebee's Grill + Bar
Years Remaining On Lease
10.1
Gross SF
5,335
Guarantor
Franchisee Guarantee
Rentable SF
5,335
Price/Gross SF
$500.47
Lease Type
Absolute Net
Rent Per Square Feet
$34.78

Investment Highlights

  • 10+ YEARS REMAINING | ABSOLUTE NNN LEASE
  • RMH FRANCHISE | 130+ LOCATIONS | 5,000+ EMPLOYEES
  • WELL-ESTABLISHED RESTAURANT | 4-WAY SIGNALIZED CORNER
  • RETAIL HUB LOCATION ADJACENT TO LOWE'S-KOHL'S ANCHORED CENTER

Investment Overview

10+ YEARS REMAINING | ABSOLUTE NNN LEASE The subject property is a freestanding Applebee’s Grill + Bar restaurant operating under a long-term lease with just over 10-years remaining. rmh FRANCHISE | 130+ Locations | 5,000+ Employees The Applebee’s Grill + Bar property is operated by RMH Franchise Corporation(2) and guaranted by RMH Franchise Holdings, Inc.(1), which operates over 130 locations in 14 states across the U.S. The company is based in Dallas, TX and has over 5,000 employees. WELL-ESTABLISHED restaurant | 4-way signalized corner The subject Applebee’s Grill + Bar is well-established with over 29 years of operational history. It is situated at the 4-way signalized corner of Towne Boulevard (11,498 VPD) and Terhune Drive directly across from a Lowe’s and Kohl’s anchored shopping center. RETAIL HUB LOCATION | NEAR INTERSTATE 75 (88,096 VPD) The property is situated near Interstate 75, which provides direct access to Downtown Cincinnati. It’s surrounded by national retailers including Lowe’s, Kohl’s, Cracker Barrel, Olive Garden, Kroger Marketplace, Walmart Supercenter, Gabe’s Discount, Petco, Meijer, Dollar Tree, ALDI and many more. There are also a number of national hotel chains near the property including Drury Inn, Quality Inn, Fairfield Inn and more. 10% RENT INCREASES EVERY 5-YEARS The lease offers landlord-friendly rent increases of 10% every 5-years during the primary term and at each of the 4, 5-year option periods.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

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