Restaurant

Applebee's

1665 West Lacey Boulevard, Hanford, CA 93230

Listing Price: $4,306,951

Cap Rate
6.30%
Tenant Name
Applebee's - Apple American
Years Remaining On Lease
4.30
Gross SF
4,993
Guarantor
Franchisee Guarantee
Rentable SF
4,993
Price/Gross SF
$862.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.34

Investment Overview

Marcus & Millichap is pleased to present Applebees at the Hanford Mall, a single tenant net leased restaurant opportunity in Central California.
This Applebees location is operated by Apple America, the largest franchisee in the Applebees system and a subsidiary of the Flynn Restaurant Group, one of the largest franchise restaurant operators in the nation.
Applebees has been in operation at the site for approximately 25 years and has historically produced excellent receipts. In addition to base rent and expense recapture the NNN lease calls for percentage rent over a fixed break point; the property consistently generates substantial percentage rent significantly increasing the net operating income.
A fee simple offering, the subject consists of a restaurant building totaling 4,993-square feet sitting on an oversized 1.76-acre hard corner parcel. There are 60 surface parking spaces on the subject property which also enjoys reciprocal rights to abundant mall parking and access via mall drive lanes.
An outparcel to the dominant shopping center in a trade area that extends throughout Kings County and in to adjacent Counties the subject offers tremendous intrinsic value factors. A true Main & Main location the Mall is surrounded by the only Hospital in the trade area, the County Government Center and Superior Court, Hanford High School, and national tenant anchored shopping centers.

Investment Highlights

  • Fee Simple Offering Includes 4,993-SF Restaurant on 1.76-Acre Parcel
  • True NNN Terms With Landlord Responsibilities Limited to Roof & Structure
  • Percentage Rent Component Consistently Adds Significant Income
  • Excellent Unit Sales
  • Hard Corner at Dominant Regional Shopping Center in the Trade Area

Exclusively Listed By

Listing Price: $4,306,951

Cap Rate
6.30%
Tenant Name
Applebee's - Apple American
Years Remaining On Lease
4.30
Gross SF
4,993
Guarantor
Franchisee Guarantee
Rentable SF
4,993
Price/Gross SF
$862.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$54.34

Investment Highlights

  • Fee Simple Offering Includes 4,993-SF Restaurant on 1.76-Acre Parcel
  • True NNN Terms With Landlord Responsibilities Limited to Roof & Structure
  • Percentage Rent Component Consistently Adds Significant Income
  • Excellent Unit Sales
  • Hard Corner at Dominant Regional Shopping Center in the Trade Area

Investment Overview

Marcus & Millichap is pleased to present Applebees at the Hanford Mall, a single tenant net leased restaurant opportunity in Central California.
This Applebees location is operated by Apple America, the largest franchisee in the Applebees system and a subsidiary of the Flynn Restaurant Group, one of the largest franchise restaurant operators in the nation.
Applebees has been in operation at the site for approximately 25 years and has historically produced excellent receipts. In addition to base rent and expense recapture the NNN lease calls for percentage rent over a fixed break point; the property consistently generates substantial percentage rent significantly increasing the net operating income.
A fee simple offering, the subject consists of a restaurant building totaling 4,993-square feet sitting on an oversized 1.76-acre hard corner parcel. There are 60 surface parking spaces on the subject property which also enjoys reciprocal rights to abundant mall parking and access via mall drive lanes.
An outparcel to the dominant shopping center in a trade area that extends throughout Kings County and in to adjacent Counties the subject offers tremendous intrinsic value factors. A true Main & Main location the Mall is surrounded by the only Hospital in the trade area, the County Government Center and Superior Court, Hanford High School, and national tenant anchored shopping centers.

Exclusively Listed By

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