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Restaurant

Applebee's | 4+ Years Remain | Replaceable Rent Rate

900 Lew Dewitt Blvd, Waynesboro, VA 22980

Listing Price: $1,857,143

Cap Rate
7.00%
Tenant Name
Applebee's
Years Remaining On Lease
4.1
Guarantor
Franchisee Guarantee
Rentable SF
4,799
Lease Type
NNN Ground Lease
Rent Per Square Feet
$27.09

Investment Overview

Applebee’s occupies a large 2.06-acre parcel along the Rosser Avenue retail corridor 0.2-miles off Interstate-64. This corridor has become a regional retail cluster drawing from a 10-mile trade radius to the north and south, offering exceptional accessibility to a vast geography. Serving as Waynesboro's main retail corridor, Rosser Avenue has been experiencing significant new retail development with users like Aspen Dental, Chipotle, Take 5, and Sheetz immediately across the street. New Hotels are also recently opened and are planned in proximity. Amazon recently opened on the outskirts of the town and this has facilitated additional job growth to the town.

Investment Highlights

  • NNN Ground Lease with Percentage Rent Paid Historically
  • Healthy Cost of Occupancy Ratio with Sales Trending Upwards
  • Regional Retail Corridor Experiencing New Food Entrants including Chipotle and Popeyes

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Jeffrey Pensak

    Associate

    (202) 536-3760

    Email Jeffrey

    License(s): MD: 681663, PA: RSR005189, VA: 0225261924

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Restaurant

Applebee's | 4+ Years Remain | Replaceable Rent Rate

Listing Price: $1,857,143

Cap Rate
7.00%
Tenant Name
Applebee's
Years Remaining On Lease
4.1
Guarantor
Franchisee Guarantee
Rentable SF
4,799
Lease Type
NNN Ground Lease
Rent Per Square Feet
$27.09

Investment Highlights

  • NNN Ground Lease with Percentage Rent Paid Historically
  • Healthy Cost of Occupancy Ratio with Sales Trending Upwards
  • Regional Retail Corridor Experiencing New Food Entrants including Chipotle and Popeyes

Investment Overview

Applebee’s occupies a large 2.06-acre parcel along the Rosser Avenue retail corridor 0.2-miles off Interstate-64. This corridor has become a regional retail cluster drawing from a 10-mile trade radius to the north and south, offering exceptional accessibility to a vast geography. Serving as Waynesboro's main retail corridor, Rosser Avenue has been experiencing significant new retail development with users like Aspen Dental, Chipotle, Take 5, and Sheetz immediately across the street. New Hotels are also recently opened and are planned in proximity. Amazon recently opened on the outskirts of the town and this has facilitated additional job growth to the town.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Jeffrey Pensak

    Associate

    (202) 536-3760

    Email Jeffrey

    License(s): MD: 681663, PA: RSR005189, VA: 0225261924

    Washington, D.C.

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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