1325 Plaza Blvd
Sanford, NC 27330
Applebee's - Corporate | 15 Yrs Remaining · Retail Property For Sale

Marcus & Millichap is pleased to offer, on behalf of ownership, the fee simple interest in a single-tenant, freestanding Applebee’s restaurant in Sanford, North Carolina. The site consists of approximately 5,651 square feet of building space and sits on 2.12 acres of land. The property is subject to a twenty-year absolute triple-net lease (15 years remaining). The current rent is $256,800 with 7.0% increases every five years in the base term. The increases will continue throughout the four, 5-year renewal periods. This property offers investors the rare opportunity to acquire an extremely well located Corporate owned and operated location. Additionally, this Applebee’s location will continue to flourish as Sanford, NC continues its rapid expansion in both population and infrastructure. From 2000 to 2009, Sanford’s population grew 28.9%. In the next five years, the metro is expected to grow by 210,000 people, equating to 90,000 households. The impressive economic expansion is possible through its central location, high-powered logistics and a powered-up labor force. Growth is also being positively promoted through the community itself, legislators, and the Sanford Growth Alliance (see page 13). Currently, Sanford is home to more than 42 manufacturing, production and wholesale companies. Multiple industry expansions and success will continue to promote retail health and consume behavior throughout Sanford’s retail corridors.