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Restaurant

Applebee's (Absolute NNN)

1860 Elmira St, Sayre, PA 18840

Listing Price: $3,309,944

Cap Rate
7.00%
Tenant Name
TLC Central, LLC
Years Remaining On Lease
15.9
Guarantor
Franchisee Guarantee
Rentable SF
5,168
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.83

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 6-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. MAJOR RETAIL LOCATION NEAR US 220 The subject property is located in a major retail area of Sayre with 23,031 residents having an average household income of $66,400 in a 1-mile radius. The property is situated near US Highway 220 (9,472 VPD) with direct street frontage along Elmira Street, with average daily traffic counts of 11,968 VPD. Nationally recognized retailers in the immediate area include Walmart Supercenter, The UPS Store, Tractor Supply, Burger King, Dunkin’ Donuts, Mr. Tire Auto Service Centers, Lowe’s Home Improvement, Arby’s, Wendy’s, ALDI, Rite Aid, Advance Auto Parts, Dollar General, and many more. The Guthrie Robert Packer Hospital (267-beds) is located 1.5 miles to the east of the subject property. HIGHLY SKILLED WORKFORCE IN PENNSYLVANIA Partnerships between Pennsylvania universities and businesses put technology on the fast track to commercialization and the marketplace. There are nearly 250 renowned educational institutions throughout Pennsylvania that provide a robust supply of talent and skill in the laborforce. With world-class education, geographic proximity to key markets and access to three major ports, 6 international airports, 120,000 miles of state and local highways, the State of PA offers a strategic and competitive business environment. WELL-ESTABLISHED APPLEBEE’S FRANCHISEE The Lease is guaranteed by TLC West, 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
  • MAJOR RETAIL LOCATION NEAR US 220
  • WELL-ESTABLISHED LOCATION WITH OFF-PREMISE SERVICES

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Restaurant

Applebee's (Absolute NNN)

Listing Price: $3,309,944

Cap Rate
7.00%
Tenant Name
TLC Central, LLC
Years Remaining On Lease
15.9
Guarantor
Franchisee Guarantee
Rentable SF
5,168
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.83

Investment Highlights

  • ABSOLUTE NNN LEASE WITH ANNUAL RENT INCREASES
  • MAJOR RETAIL LOCATION NEAR US 220
  • 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 6-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. MAJOR RETAIL LOCATION NEAR US 220 The subject property is located in a major retail area of Sayre with 23,031 residents having an average household income of $66,400 in a 1-mile radius. The property is situated near US Highway 220 (9,472 VPD) with direct street frontage along Elmira Street, with average daily traffic counts of 11,968 VPD. Nationally recognized retailers in the immediate area include Walmart Supercenter, The UPS Store, Tractor Supply, Burger King, Dunkin’ Donuts, Mr. Tire Auto Service Centers, Lowe’s Home Improvement, Arby’s, Wendy’s, ALDI, Rite Aid, Advance Auto Parts, Dollar General, and many more. The Guthrie Robert Packer Hospital (267-beds) is located 1.5 miles to the east of the subject property. HIGHLY SKILLED WORKFORCE IN PENNSYLVANIA Partnerships between Pennsylvania universities and businesses put technology on the fast track to commercialization and the marketplace. There are nearly 250 renowned educational institutions throughout Pennsylvania that provide a robust supply of talent and skill in the laborforce. With world-class education, geographic proximity to key markets and access to three major ports, 6 international airports, 120,000 miles of state and local highways, the State of PA offers a strategic and competitive business environment. WELL-ESTABLISHED APPLEBEE’S FRANCHISEE The Lease is guaranteed by TLC West, 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.

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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