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Restaurant

Applebee's

1202 N Washington St, Papillion, NE 68046

Listing Price: $2,257,220

Cap Rate
5.75%
Tenant Name
Legacy Apple III / Legacy Apple II
Years Remaining On Lease
16.5
Guarantor
Franchisee Guarantee
Rentable SF
5,014
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.89

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 1202 N. Washington St in Papillion, Nebraska. The site consists of roughly 5,014 rentable square feet of building space on estimated 1.38-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is $129,790 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options. *Glen Kunofsky and other members of the selling entity, Exclusive Listing Agents, are part fee owners of this property. They are licensed real estate salespeople for Marcus and Millichap in the State of New York.

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16.5 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Financing By

Listing Price: $2,257,220

Cap Rate
5.75%
Tenant Name
Legacy Apple III / Legacy Apple II
Years Remaining On Lease
16.5
Guarantor
Franchisee Guarantee
Rentable SF
5,014
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.89

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16.5 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 1202 N. Washington St in Papillion, Nebraska. The site consists of roughly 5,014 rentable square feet of building space on estimated 1.38-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is $129,790 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options. *Glen Kunofsky and other members of the selling entity, Exclusive Listing Agents, are part fee owners of this property. They are licensed real estate salespeople for Marcus and Millichap in the State of New York.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

Financing By

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