Skip to main content

Restaurant

Applebee's (Absolute NNN)

5822 S Transit Rd, Lockport, NY 14094

Listing Price: $2,957,407

Cap Rate
7.00%
Tenant Name
TLC West, LLC
Years Remaining On Lease
15.9
Guarantor
Franchisee Guarantee
Rentable SF
5,400
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.34

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 25-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. MAIN RETAIL CORRIDOR ON NY-78 (26,698 ADT) IN THE BUFFALO MSA The subject property is located in a dense retail corridor of Lockport with average household incomes of $69,827 within a 1-mile radius. The property is situated immediately off of NY-78 (26,698 ADT) with excellent visibility and direct street frontage. Nationally recognized retailers in the immediate area include Home Depot, Walmart Supercenter, OfficeMax, T.J. Maxx, Taco Bell, Panera Bread, Denny’s, The UPS Store, ALDI, Verizon Wireless, PetSmart, McDonald’s, NAPA Auto Parts, Pep Boys Auto Service & Tire, and many more. The Subject Property is located less than thirty minutes from Downtown Buffalo and halfway between the shores of Lake Ontario and Lake Erie. FASTEST GROWING TOWN IN UPSTATE NEW YORK Conveniently located only 20 miles east of Niagara Falls, 25 miles northeast of Buffalo and 10 miles south of Lake Ontario, Lockport is a community of character where history runs deep. Propelled by price-conscious buyers of all generations interested in urban living, Lockport is known for its housing affordability compared to New York City and other nearby larger cities, its population density, accessibility, higher education, quality of life, commute times, health care costs, arts vibrancy and as New York State’s premier Erie Canal community. 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
  • MAIN RETAIL CORRIDOR ON NY-78 (26,698 ADT) IN THE BUFFALO MSA
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES

Exclusively Listed By

Restaurant

Applebee's (Absolute NNN)

Listing Price: $2,957,407

Cap Rate
7.00%
Tenant Name
TLC West, LLC
Years Remaining On Lease
15.9
Guarantor
Franchisee Guarantee
Rentable SF
5,400
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.34

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES
  • MAIN RETAIL CORRIDOR ON NY-78 (26,698 ADT) IN THE BUFFALO MSA
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES

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 25-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. MAIN RETAIL CORRIDOR ON NY-78 (26,698 ADT) IN THE BUFFALO MSA The subject property is located in a dense retail corridor of Lockport with average household incomes of $69,827 within a 1-mile radius. The property is situated immediately off of NY-78 (26,698 ADT) with excellent visibility and direct street frontage. Nationally recognized retailers in the immediate area include Home Depot, Walmart Supercenter, OfficeMax, T.J. Maxx, Taco Bell, Panera Bread, Denny’s, The UPS Store, ALDI, Verizon Wireless, PetSmart, McDonald’s, NAPA Auto Parts, Pep Boys Auto Service & Tire, and many more. The Subject Property is located less than thirty minutes from Downtown Buffalo and halfway between the shores of Lake Ontario and Lake Erie. FASTEST GROWING TOWN IN UPSTATE NEW YORK Conveniently located only 20 miles east of Niagara Falls, 25 miles northeast of Buffalo and 10 miles south of Lake Ontario, Lockport is a community of character where history runs deep. Propelled by price-conscious buyers of all generations interested in urban living, Lockport is known for its housing affordability compared to New York City and other nearby larger cities, its population density, accessibility, higher education, quality of life, commute times, health care costs, arts vibrancy and as New York State’s premier Erie Canal community. 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

MM Texture Background
MM Textured Background Lower