Restaurant

Applebee's (Absolute NNN)

1205 NY-300, Newburgh, NY 12550

Listing Price: $2,369,270

Cap Rate
7.00%
Tenant Name
TLC Central, LLC
Years Remaining On Lease
16.6
Guarantor
Franchisee Guarantee
Rentable SF
4,997
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.19

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 22-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 ROUTE 300 (32,505 ADT) The subject property is located in a dense retail corridor of Newburgh with average household incomes of $92,842 within a 5-mile radius. The property is situated immediately off of NY Route 300 (32,505 ADT) with excellent visibility and direct street frontage. Nationally recognized retailers in the immediate area include Home Depot, Walmart Supercenter, PetSmart, Sonic Drive-In, McDonald’s, Lowe’s, a Tesla Supercharger station, Dunkin’ Donuts, TGI Friday’s, IHOP, Chase Bank, Burger King, Market Fresh Supermarket, Crystal Run Healthcare Newburgh, Dollar General, Panera Bread, and many more. The Subject Property is located less than one mile from New York Stewart International Airport and across the street from Crystal Run Healthcare, a premier multispecialty group practice with over 400 providers in over 40 medical specialties. WORLD FAMOUS HUDSON RIVER LOCATION Conveniently located only 60 miles north of New York City and 20 minutes to the U.S. Military Academy at West Point, Newburgh is a community rich in history and breathtaking views. From the Walkway Over the Hudson, the world’s longest pedestrian bridge, to the Shawangunk Mountains, the Hudson River Valley was recognized as one of the Top 20 Best of the World Destinations by National Geographic Traveler. Propelled by price-conscious buyers of all generations interested in urban living, Newburgh is known for its housing affordability compared to other nearby larger cities, its population density, accessibility, quality of life, commute times, health care costs and vast history. 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 ROUTE 300 (32,505 ADT)
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES

Exclusively Listed By

Broker of Record

  • John Krueger

    Broker of Record

    License(s): NY: 10311205789

    New York

Restaurant

Applebee's (Absolute NNN)

Listing Price: $2,369,270

Cap Rate
7.00%
Tenant Name
TLC Central, LLC
Years Remaining On Lease
16.6
Guarantor
Franchisee Guarantee
Rentable SF
4,997
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.19

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES
  • MAIN RETAIL CORRIDOR ON NY ROUTE 300 (32,505 ADT)
  • 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 22-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 ROUTE 300 (32,505 ADT) The subject property is located in a dense retail corridor of Newburgh with average household incomes of $92,842 within a 5-mile radius. The property is situated immediately off of NY Route 300 (32,505 ADT) with excellent visibility and direct street frontage. Nationally recognized retailers in the immediate area include Home Depot, Walmart Supercenter, PetSmart, Sonic Drive-In, McDonald’s, Lowe’s, a Tesla Supercharger station, Dunkin’ Donuts, TGI Friday’s, IHOP, Chase Bank, Burger King, Market Fresh Supermarket, Crystal Run Healthcare Newburgh, Dollar General, Panera Bread, and many more. The Subject Property is located less than one mile from New York Stewart International Airport and across the street from Crystal Run Healthcare, a premier multispecialty group practice with over 400 providers in over 40 medical specialties. WORLD FAMOUS HUDSON RIVER LOCATION Conveniently located only 60 miles north of New York City and 20 minutes to the U.S. Military Academy at West Point, Newburgh is a community rich in history and breathtaking views. From the Walkway Over the Hudson, the world’s longest pedestrian bridge, to the Shawangunk Mountains, the Hudson River Valley was recognized as one of the Top 20 Best of the World Destinations by National Geographic Traveler. Propelled by price-conscious buyers of all generations interested in urban living, Newburgh is known for its housing affordability compared to other nearby larger cities, its population density, accessibility, quality of life, commute times, health care costs and vast history. 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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