Applebee's 2000 Vermillion St 5,471 SF Retail Building Hastings, MN 55033 $1,994,000 ($364.47/SF) 8.50% Cap Rate

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Applebee's located at 2000 Vermillion St in Hastings, MN. This property features a NNN lease with Applebee's, delivering stable cash flow from an established national restaurant chain while providing a completely hands-free investment with zero landlord obligations.
Applebee's is operated by Apple American Group (AAG), the largest Applebee's franchisee. AAG is a subsidiary of Flynn Restaurant Group, which is the world's largest restaurant franchise operator, providing exceptional credit strength to the investment. The 5,471 SF building sits on 1.30 acres with prominent frontage along Vermillion Street (Highway 61), which is Hastings' primary north-south corridor carrying 29,000 vehicles per day. The riverfront location creates an attractive, high-visibility setting that benefits from large pylon signage visible to motorists in both directions, while offering multiple access points for seamless customer circulation. With approximately 94 parking stalls, the outstanding ratio of more than 15 spaces per 1,000 SF makes it an ideal location for restaurant operations.
The property is positioned within the established Hastings market, which serves as the Dakota county seat and benefits from a stable consumer base featuring average household incomes of nearly $120,000 within five miles, aligning with national averages. This strategic location combines solid demographics with proximity to consistent traffic drivers including the Hastings Civic Arena and the newly-developed Current 33 Apartment complex with 200+ units, while being surrounded by daily-needs retailers like Kwik Trip, CVS, Dollar Tree, and various dining options that create a strong retail ecosystem in the immediate trade area.
Please refer to the OM for more information on this investment opportunity.