Skip to main content

Restaurant

Applebee's

197 Piercy Dr, Lewisburg, WV 24901

Listing Price: $2,596,441

Cap Rate
5.75%
Tenant Name
Legacy Apple III / Legacy Apple II
Years Remaining On Lease
16.3
Guarantor
Franchisee Guarantee
Rentable SF
4,748
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.44

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 197 Piercy Dr in Lewisburg, West Virginia. The site consists of roughly 4,748 rentable square feet of building space on estimated 1.20-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 $149,295 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

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s) WV0019009

    West Virginia

Financing By

Restaurant

Applebee's

Listing Price: $2,596,441

Cap Rate
5.75%
Tenant Name
Legacy Apple III / Legacy Apple II
Years Remaining On Lease
16.3
Guarantor
Franchisee Guarantee
Rentable SF
4,748
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.44

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 197 Piercy Dr in Lewisburg, West Virginia. The site consists of roughly 4,748 rentable square feet of building space on estimated 1.20-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 $149,295 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.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s): WV0019009

    West Virginia

Financing By

MM Texture Background
MM Textured Background Lower