Restaurant

Applebee's (Absolute NNN)

200 Paddy Creek Circle, Rochester, NY 14615

Listing Price: $3,923,299

Cap Rate
7.00%
Tenant Name
TLC West, LLC
Years Remaining On Lease
16.6
Guarantor
Franchisee Guarantee
Rentable SF
5,432
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.56

Investment Overview

ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES The subject property operates under a 20-year Absolute NNN Lease, with approximately 17-years remaining. The lease offers 1.5% annual rent increases during the primary term and the 4, 5-year option periods. There are no landlord management or maintenance responsibilities whatsoever. WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES The Applebee’s Neighborhood Grill & Bar has a 27-year operational history at this location. Dine Brands and their franchisees have taken precautionary measures and swiftly pivoted to an off-premise business model to adapt to local and state government mandates. CarsideTo-Go services have also contributed to positive comparable traffic and off-premise sales growth. DENSE INFILL LOCATION AND IMMEDIATELY OFF OF US-390 The subject property is located in a dense infill area of Rochester with 256,853 residents in a 5-mile radius. The property is situated immediately off of US Highway 390 (69,991 VPD) with excellent visibility and direct street frontage along W. Ridge Road with average daily traffic counts of 46,302 VPD. Nationally recognized retailers in the immediate area include Chipotle, CVS pharmacy, Petco, Staples, Goodwill, Taco Bell, Home Depot, Starbucks, Dollar Tree, Sunoco Gas Station, Advance Auto Parts, Verizon Wireless, Target, Wegmans Grocery Store and many more. There are strong demographics in Rochester, NY with 256,853 residents having an average household income of $64,166 within a 5-mile radius of the subject property. LOCATED IN ONE OF AMERICA’S TOP METRO REGIONS FOR BUSINESS, EDUCATION AND TECHNOLOGY Greater Rochester and Upstate New York are recognized as one of the most entrepreneurial regions in the United States and the top metro in the country for future growth and strategic investment in tech innovation. Propelled by price-conscious buyers of all generations interested in urban living, Rochester is ranked 6th among top metropolitan areas in 2020 for its housing affordability, population density, accessibility, higher education, quality of life, commute times, health care costs, arts vibrancy and a budding wine destination in the picturesque Finger Lakes Region. WELL-ESTABLISHED APPLEBEE’S FRANCHISEE The Lease is guaranteed by TLC Central, LLC (28 units), which is a part of T. L. Cannon Companies. T.L. Cannon Companies (TLC West, LLC, TLC Central, LLC, TLC East, LLC) is a private franchisee of 60 Applebee’s Neighborhood Grill & Bar restaurants in Upstate New York, Connecticut and Sayre, Pennsylvania. Please see agent for further details. (

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES
  • LOCATED IN ONE OF AMERICA'S TOP METRO REGIONS FOR BUSINESS, EDUCATION AND TECHNOLOGY

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    License(s): NY: 10311205789

    New York

Listing Price: $3,923,299

Cap Rate
7.00%
Tenant Name
TLC West, LLC
Years Remaining On Lease
16.6
Guarantor
Franchisee Guarantee
Rentable SF
5,432
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.56

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES
  • LOCATED IN ONE OF AMERICA'S TOP METRO REGIONS FOR BUSINESS, EDUCATION AND TECHNOLOGY

Investment Overview

ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES The subject property operates under a 20-year Absolute NNN Lease, with approximately 17-years remaining. The lease offers 1.5% annual rent increases during the primary term and the 4, 5-year option periods. There are no landlord management or maintenance responsibilities whatsoever. WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES The Applebee’s Neighborhood Grill & Bar has a 27-year operational history at this location. Dine Brands and their franchisees have taken precautionary measures and swiftly pivoted to an off-premise business model to adapt to local and state government mandates. CarsideTo-Go services have also contributed to positive comparable traffic and off-premise sales growth. DENSE INFILL LOCATION AND IMMEDIATELY OFF OF US-390 The subject property is located in a dense infill area of Rochester with 256,853 residents in a 5-mile radius. The property is situated immediately off of US Highway 390 (69,991 VPD) with excellent visibility and direct street frontage along W. Ridge Road with average daily traffic counts of 46,302 VPD. Nationally recognized retailers in the immediate area include Chipotle, CVS pharmacy, Petco, Staples, Goodwill, Taco Bell, Home Depot, Starbucks, Dollar Tree, Sunoco Gas Station, Advance Auto Parts, Verizon Wireless, Target, Wegmans Grocery Store and many more. There are strong demographics in Rochester, NY with 256,853 residents having an average household income of $64,166 within a 5-mile radius of the subject property. LOCATED IN ONE OF AMERICA’S TOP METRO REGIONS FOR BUSINESS, EDUCATION AND TECHNOLOGY Greater Rochester and Upstate New York are recognized as one of the most entrepreneurial regions in the United States and the top metro in the country for future growth and strategic investment in tech innovation. Propelled by price-conscious buyers of all generations interested in urban living, Rochester is ranked 6th among top metropolitan areas in 2020 for its housing affordability, population density, accessibility, higher education, quality of life, commute times, health care costs, arts vibrancy and a budding wine destination in the picturesque Finger Lakes Region. WELL-ESTABLISHED APPLEBEE’S FRANCHISEE The Lease is guaranteed by TLC Central, LLC (28 units), which is a part of T. L. Cannon Companies. T.L. Cannon Companies (TLC West, LLC, TLC Central, LLC, TLC East, LLC) is a private franchisee of 60 Applebee’s Neighborhood Grill & Bar restaurants in Upstate New York, Connecticut and Sayre, Pennsylvania. Please see agent for further details. (

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    License(s): NY: 10311205789

    New York

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