Restaurant

Applebee's

30 Morton Blvd, Hazard, KY 41701

Listing Price: $1,659,259

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
4,740
Guarantor
Franchisee Guarantee
Rentable SF
4,740
Price/Gross SF
$350.05
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.63

Investment Overview

The subject investment property is situated at the corner of Morton Boulevard and KY-15, a major vessel that runs connects the major hospital, Hazard ARH, in the vicinity to the retail corridor, bringing traffic to and past the Applebees investment property. Morton Boulevard, one of the two entrances and exits to Hazard ARH, boasts 4,500 daily vehicles per day alone, on average. KY-15 feeds into Morton Boulevard and to the major retail corridor, boasting over 20,100 vehicles per day, on average. There are more than 14,600 individuals residing within a five-mile radius of the property and more than 27,000 individuals within a ten-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 hospitality accommodations all within close proximity of this property. Major national tenants include: McDonalds, Taco Bell, CVS, Ford, Shell, Huddle House, Little Caesars, Family Dollar, Tractor Supply Co, Subway, Papa Johns Pizza, and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Quality Inn, Hampton Inn & Suites, Holiday Inn Express & Suites, Quality Inn, and more. This property also benefits from being situated within a mile, on one of the two service roads to the major hospital in the area, Hazard ARH, a 308-bed, state-of-the-art medical facility. Additionally, the subject property benefits from being located less than one mile from Perry County Central High School, which has a total enrollment of more than 950 students.

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

  • Colby Haugness

    First Vice President Investments

    License(s): KY: 242197

    Kentucky

Listing Price: $1,659,259

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
4,740
Guarantor
Franchisee Guarantee
Rentable SF
4,740
Price/Gross SF
$350.05
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.63

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 at the corner of Morton Boulevard and KY-15, a major vessel that runs connects the major hospital, Hazard ARH, in the vicinity to the retail corridor, bringing traffic to and past the Applebees investment property. Morton Boulevard, one of the two entrances and exits to Hazard ARH, boasts 4,500 daily vehicles per day alone, on average. KY-15 feeds into Morton Boulevard and to the major retail corridor, boasting over 20,100 vehicles per day, on average. There are more than 14,600 individuals residing within a five-mile radius of the property and more than 27,000 individuals within a ten-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 hospitality accommodations all within close proximity of this property. Major national tenants include: McDonalds, Taco Bell, CVS, Ford, Shell, Huddle House, Little Caesars, Family Dollar, Tractor Supply Co, Subway, Papa Johns Pizza, and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Quality Inn, Hampton Inn & Suites, Holiday Inn Express & Suites, Quality Inn, and more. This property also benefits from being situated within a mile, on one of the two service roads to the major hospital in the area, Hazard ARH, a 308-bed, state-of-the-art medical facility. Additionally, the subject property benefits from being located less than one mile from Perry County Central High School, which has a total enrollment of more than 950 students.

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

  • Colby Haugness

    First Vice President Investments

    License(s): KY: 242197

    Kentucky

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