Restaurant
Applebee’s (Prime Location in Gainesville Near University of Florida)
7441 W. Newberry Rd., Gainesville, FL 32607
Listing Price: $3,150,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire an Applebee’s Grill + Bar located in Gainesville, Florida. This Tenant has been in place for more than 10 years and offers a triple net (NNN) lease with six, five-year tenant renewal options. There is one percent annual rent increases throughout the base term and option periods.
Applebee’s Grill + Bar is one of the world’s largest casual dining brands throughout the United States and abroad. This Applebee’s is operated by Neighborhood Restaurant Partners, an experienced restaurant operator of more than 110 Applebee’s Grill + Bar restaurants in Central Florida, Northwest Florida, Atlanta Georgia, Southern Georgia/Southern Alabama and San Antonio Texas.
The property is strategically located along Newberry Road, a key east-west thoroughfare near the University of Florida (UF) campus, with over 50,000 vehicles passing daily. Additionally, it's directly off Interstate 75, which sees over 90,000 vehicles daily.
The immediate area boasts numerous hotels, apartment communities, and student housing, serving a population of over 160,000 within five miles and nearly 215,000 within seven miles.
This Applebee’s is within walking distance from The Oaks Mall, anchored by Dillard's, JCPenney, Belk, and UF Health Ophthalmology Medical Center, and features Over 100 retailers. Other surrounding national brands include Publix Supermarket, The Home Depot, HomeGoods, T.J. Maxx, Bealls, Cato Fashions, Floor & Décor, Rooms To Go, Hobby Lobby, Petco, Ulta Beauty, Starbucks, Dunkin', McDonald’s, Pizza Hut, Panera Bread, Taco Bell, Waffle House, Verizon, AT&T, Bank of America, Quality Inn, Days Inn, La Quinta by Wyndham, Baymont by Wyndham, and many more.
Gainesville is home to the University of Florida, with a combined student enrollment of over 75,000 between UF and Santa Fe College. UF is also the city's largest employer, with approximately 19,500 employees and a $16 billion impact on the state economy. This property is a half mile from HCA Florida North Florida Hospital, with 523 beds and 346 physicians. This is also a major employer in Gainesville and serves as a significant part of the local economy.
Applebee’s (Prime Location in Gainesville Near University of Florida)
Investment Highlights
- Triple Net (NNN) Lease With 6, 5-Year Renewal Options and 1% Annual Rent Increases
- Strong Operator of Applebee's Restaurants – Neighborhood Restaurant Partners Operates 110+ Applebee's Grill + Bar Restaurants in Florida, Georgia, Alabama and Texas
- High Traffic Area on Newberry Road, With a Traffic Count of More Than 50,000 Vehicles Daily – Newberry Rd is a Significant East-West Thoroughfare that Passes Near the University of Florida Campus
- Located Directly Off Interstate 75, With a Traffic Count Over 90,000 Vehicles Daily
- The Immediate Area Boasts Numerous Hotels, Apartment Communities, and Student Housing
- Population Over 160,000 Within Five Miles of Subject Property, and Nearly 215,000 in Seven Miles
- Major Retail Corridor, Walking Distance from The Oaks Mall, Anchored by Dillard's, JCPenney, Belk, and UF Health Ophthalmology Medical Center, and Features Over 100 Retailers
- Gainesville is Home to the University of Florida, the Largest Employer in the Metro and the Driving Force of the Local Economy – With a Total Enrollment of 54,814 Students and Employs Approx. 19,500 Individuals
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Restaurant
Applebee’s (Prime Location in Gainesville Near University of Florida)
Listing Price: $3,150,000
Investment Highlights
- Triple Net (NNN) Lease With 6, 5-Year Renewal Options and 1% Annual Rent Increases
- Strong Operator of Applebee's Restaurants – Neighborhood Restaurant Partners Operates 110+ Applebee's Grill + Bar Restaurants in Florida, Georgia, Alabama and Texas
- High Traffic Area on Newberry Road, With a Traffic Count of More Than 50,000 Vehicles Daily – Newberry Rd is a Significant East-West Thoroughfare that Passes Near the University of Florida Campus
- Located Directly Off Interstate 75, With a Traffic Count Over 90,000 Vehicles Daily
- The Immediate Area Boasts Numerous Hotels, Apartment Communities, and Student Housing
- Population Over 160,000 Within Five Miles of Subject Property, and Nearly 215,000 in Seven Miles
- Major Retail Corridor, Walking Distance from The Oaks Mall, Anchored by Dillard's, JCPenney, Belk, and UF Health Ophthalmology Medical Center, and Features Over 100 Retailers
- Gainesville is Home to the University of Florida, the Largest Employer in the Metro and the Driving Force of the Local Economy – With a Total Enrollment of 54,814 Students and Employs Approx. 19,500 Individuals
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire an Applebee’s Grill + Bar located in Gainesville, Florida. This Tenant has been in place for more than 10 years and offers a triple net (NNN) lease with six, five-year tenant renewal options. There is one percent annual rent increases throughout the base term and option periods. Applebee’s Grill + Bar is one of the world’s largest casual dining brands throughout the United States and abroad. This Applebee’s is operated by Neighborhood Restaurant Partners, an experienced restaurant operator of more than 110 Applebee’s Grill + Bar restaurants in Central Florida, Northwest Florida, Atlanta Georgia, Southern Georgia/Southern Alabama and San Antonio Texas. The property is strategically located along Newberry Road, a key east-west thoroughfare near the University of Florida (UF) campus, with over 50,000 vehicles passing daily. Additionally, it's directly off Interstate 75, which sees over 90,000 vehicles daily. The immediate area boasts numerous hotels, apartment communities, and student housing, serving a population of over 160,000 within five miles and nearly 215,000 within seven miles. This Applebee’s is within walking distance from The Oaks Mall, anchored by Dillard's, JCPenney, Belk, and UF Health Ophthalmology Medical Center, and features Over 100 retailers. Other surrounding national brands include Publix Supermarket, The Home Depot, HomeGoods, T.J. Maxx, Bealls, Cato Fashions, Floor & Décor, Rooms To Go, Hobby Lobby, Petco, Ulta Beauty, Starbucks, Dunkin', McDonald’s, Pizza Hut, Panera Bread, Taco Bell, Waffle House, Verizon, AT&T, Bank of America, Quality Inn, Days Inn, La Quinta by Wyndham, Baymont by Wyndham, and many more. Gainesville is home to the University of Florida, with a combined student enrollment of over 75,000 between UF and Santa Fe College. UF is also the city's largest employer, with approximately 19,500 employees and a $16 billion impact on the state economy. This property is a half mile from HCA Florida North Florida Hospital, with 523 beds and 346 physicians. This is also a major employer in Gainesville and serves as a significant part of the local economy.
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