Restaurant

Applebee's

547 E State St, Athens, OH 45701

Listing Price: $1,881,481

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,527
Guarantor
Franchisee Guarantee
Rentable SF
5,527
Price/Gross SF
$340.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.98

Investment Overview

The subject investment property is situated along E State Street, which has an average daily traffic count of 10,000 vehicles. The subject property also benefits from its close proximity to Highway 50 and Highway 33, which are two of the main thoroughfares in the immediate area and have average daily traffic counts of 22,500 and 20,000 vehicle, respectively. There are approximately 27,000 people residing within a three-mile radius of the subject property and 35,000 situated within a five-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and a major university. Major national retail and dining concepts in the immediate area include: Bob Evans, CVS, Steak n Shake, PetSmart, Kroger, Walmart, Burger King, Ruby Tuesday, Lowes, Arbys, IHOP, Taco Bell, Aldi, Wendys, and McDonalds, as well as several others. The subject property also benefits from its close proximity to Ohio University, which is located less than two miles southwest of the subject property and can be easily accessed via nearby Highway-50. OhioHealth OBleness Hospital is also located southwest of the property and serves as the main medical center for the city of Athens as well as the numerous surrounding communities. This state-of-the-art medical facility has nearly 150-staffed beds and is a part of the larger OhioHealth System, which is comprised of medical facilities across the state serving a wide array of medical needs from emergency care to infectious disease care and primary pediatric care.

Investment Highlights

  • 15-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each

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

    License(s): OH: BRK.2007005898

    Ohio

Listing Price: $1,881,481

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,527
Guarantor
Franchisee Guarantee
Rentable SF
5,527
Price/Gross SF
$340.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.98

Investment Highlights

  • 15-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each

Investment Overview

The subject investment property is situated along E State Street, which has an average daily traffic count of 10,000 vehicles. The subject property also benefits from its close proximity to Highway 50 and Highway 33, which are two of the main thoroughfares in the immediate area and have average daily traffic counts of 22,500 and 20,000 vehicle, respectively. There are approximately 27,000 people residing within a three-mile radius of the subject property and 35,000 situated within a five-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and a major university. Major national retail and dining concepts in the immediate area include: Bob Evans, CVS, Steak n Shake, PetSmart, Kroger, Walmart, Burger King, Ruby Tuesday, Lowes, Arbys, IHOP, Taco Bell, Aldi, Wendys, and McDonalds, as well as several others. The subject property also benefits from its close proximity to Ohio University, which is located less than two miles southwest of the subject property and can be easily accessed via nearby Highway-50. OhioHealth OBleness Hospital is also located southwest of the property and serves as the main medical center for the city of Athens as well as the numerous surrounding communities. This state-of-the-art medical facility has nearly 150-staffed beds and is a part of the larger OhioHealth System, which is comprised of medical facilities across the state serving a wide array of medical needs from emergency care to infectious disease care and primary pediatric care.

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

    License(s): OH: BRK.2007005898

    Ohio

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