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Restaurant

Applebee's (Austin MSA)

350 I-35, Georgetown, TX 78626

Listing Price: $3,090,000

Cap Rate
5.40%
Tenant Name
Applebee's Grill + Bar
Years Remaining On Lease
6.1
Gross SF
4,518
Guarantor
Franchisee Guarantee
Rentable SF
4,518
Price/Gross SF
$683.93
Lease Type
Absolute Net
Rent Per Square Feet
$36.96

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 4,518-square-foot building on 1.66 acres in Georgetown, Texas. The property is situated along the frontage road for Interstate 35 and enjoys visibility and access to over 78,168 VPD, with traffic counts exceeding 16,201 VPD directly in front of the property. To the north retailers include H-E-B, Hobby Lobby, Tractor Supply, Burger King and Comfort Suites. To the south retailers include Best Western, KFC, McDonald's, PNC Bank, Harbor Freight and Starbucks. Applebee's has an absolute net lease with approximately 6.5 years remaining. There are four five-year renewal options with a minimum of 10 percent rent increases. The tenant at this location is Apple Houston Restaurants, Inc., an Applebee's franchisee. The principle of Apple Houston Restaurants, Inc., is Sunil Dharod. Mr. Dharod and his affiliated companies currently own/operate approximately 70 Applebee's and 47 Sonic Drive-In's, as well as various shopping centers, apartment buildings, and other real estate holdings. Georgetown, the county seat of Williamson County, is situated roughly 25 miles north of Austin. As of 2019, the population was estimated 71,000, nearly triple what it was in 2000.

Investment Highlights

  • Absolute Net Lease: Zero Landlord Responsibilities
  • Directly Across from Shopping Center Anchored by Walmart Supercenter, Home Depot, Bealls, and City Lights Theatres
  • Three-Mile Population of 51,914
  • Situated in Dense Retail Corridor Including Hampton Inn, H-E-B, Hobby Lobby, Tractor Supply, Comfort Suites, PNC Bank, Harbor Freight, Starbucks and More
  • Large Franchisee Guarantee with Long Operating History
  • Four Five-Year Renewal Options with 10% Rent Increases

Exclusively Listed By

Restaurant

Applebee's (Austin MSA)

Listing Price: $3,090,000

Cap Rate
5.40%
Tenant Name
Applebee's Grill + Bar
Years Remaining On Lease
6.1
Gross SF
4,518
Guarantor
Franchisee Guarantee
Rentable SF
4,518
Price/Gross SF
$683.93
Lease Type
Absolute Net
Rent Per Square Feet
$36.96

Investment Highlights

  • Absolute Net Lease: Zero Landlord Responsibilities
  • Directly Across from Shopping Center Anchored by Walmart Supercenter, Home Depot, Bealls, and City Lights Theatres
  • Three-Mile Population of 51,914
  • Situated in Dense Retail Corridor Including Hampton Inn, H-E-B, Hobby Lobby, Tractor Supply, Comfort Suites, PNC Bank, Harbor Freight, Starbucks and More
  • Large Franchisee Guarantee with Long Operating History
  • Four Five-Year Renewal Options with 10% Rent Increases

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 4,518-square-foot building on 1.66 acres in Georgetown, Texas. The property is situated along the frontage road for Interstate 35 and enjoys visibility and access to over 78,168 VPD, with traffic counts exceeding 16,201 VPD directly in front of the property. To the north retailers include H-E-B, Hobby Lobby, Tractor Supply, Burger King and Comfort Suites. To the south retailers include Best Western, KFC, McDonald's, PNC Bank, Harbor Freight and Starbucks. Applebee's has an absolute net lease with approximately 6.5 years remaining. There are four five-year renewal options with a minimum of 10 percent rent increases. The tenant at this location is Apple Houston Restaurants, Inc., an Applebee's franchisee. The principle of Apple Houston Restaurants, Inc., is Sunil Dharod. Mr. Dharod and his affiliated companies currently own/operate approximately 70 Applebee's and 47 Sonic Drive-In's, as well as various shopping centers, apartment buildings, and other real estate holdings. Georgetown, the county seat of Williamson County, is situated roughly 25 miles north of Austin. As of 2019, the population was estimated 71,000, nearly triple what it was in 2000.

Exclusively Listed By

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