Restaurant

Applebee's

1202 N Washington St, Papillion, NE 68046

Listing Price: $1,629,630

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,014
Guarantor
Franchisee Guarantee
Rentable SF
5,014
Price/Gross SF
$325.02
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.94

Investment Overview

The subject investment property is situated along North Washington Street which boasts average daily traffic counts exceeding 28,500 vehicles. North Washington Street intersects with Giles Road which brings an additional 19,500 vehicles into the immediate area daily. There are approximately 80,000 individuals residing within a three-mile radius of the property and more than 170,500 individuals within a five-mile radius. The subject Applebees benefits from being situated in an affluent suburban community. The average household income within a three-mile radius exceeds $85,732.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and academic institutions all within close proximity to this site. Major national tenants include: Home Depot, Target, U.S. Bank, Goodwill, Dollar Tree, Planet Fitness, Office Depot, McDonalds, Wendys, Fazolis, as well as many more. Located less than a mile from the subject property is the new La Vista City Centre development. La Vista City Centre will be the entertainment hub of Sarpy County as well as provide a mixed-use space including office space, hospitality accommodations, neighborhood services, restaurants and apartment living. This Applebees benefits from being located walking distance to Papillion-La Vista Senior High School where more than 1,800 students are enrolled.

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

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): NE: 20200223

    Nebraska

Listing Price: $1,629,630

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,014
Guarantor
Franchisee Guarantee
Rentable SF
5,014
Price/Gross SF
$325.02
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.94

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 North Washington Street which boasts average daily traffic counts exceeding 28,500 vehicles. North Washington Street intersects with Giles Road which brings an additional 19,500 vehicles into the immediate area daily. There are approximately 80,000 individuals residing within a three-mile radius of the property and more than 170,500 individuals within a five-mile radius. The subject Applebees benefits from being situated in an affluent suburban community. The average household income within a three-mile radius exceeds $85,732.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and academic institutions all within close proximity to this site. Major national tenants include: Home Depot, Target, U.S. Bank, Goodwill, Dollar Tree, Planet Fitness, Office Depot, McDonalds, Wendys, Fazolis, as well as many more. Located less than a mile from the subject property is the new La Vista City Centre development. La Vista City Centre will be the entertainment hub of Sarpy County as well as provide a mixed-use space including office space, hospitality accommodations, neighborhood services, restaurants and apartment living. This Applebees benefits from being located walking distance to Papillion-La Vista Senior High School where more than 1,800 students are enrolled.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): NE: 20200223

    Nebraska

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