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NNN Corporate Applebee's 202 S Broadview St 5,396 SF Retail Building Cape Girardeau, MO 63703 $1,950,000 ($361.38/SF) 7.01% Cap Rate
EXECUTIVE SUMMARY
Current Real Estate Advisors is pleased to present the opportunity to acquire Applebee’s – Cape Girardeau (the “Property”), a freestanding ±5,396 SF single-tenant building situated on a 1.41-acre parcel in Cape Girardeau, MO.
In November 2024, Applebee’s Corporate assumed operations and executed a brand-new Absolute NNN 10-year lease, underscoring their confidence in the location and its strong performance.
The lease is secured by a corporate guaranty from Applebee’s International, Inc., offering zero landlord responsibilities and featuring 2, 5-Year renewal options with 10% rent escalations at each renewal. Additionally, the lease includes a Percentage Rent provision beginning in Year 3, providing potential for substantially enhanced returns.
This rare Applebee’s Corporate backed location represents a compelling opportunity for investors seeking stable, reliable cash flow from a well-established, publicly traded tenant. With strong real estate fundamentals, this offering provides immediate security and a rare prospect for meaningful future upside.
In November 2024, Applebee’s Corporate assumed operations and executed a brand-new Absolute NNN 10-year lease, underscoring their confidence in the location and its strong performance.
The lease is secured by a corporate guaranty from Applebee’s International, Inc., offering zero landlord responsibilities and featuring 2, 5-Year renewal options with 10% rent escalations at each renewal. Additionally, the lease includes a Percentage Rent provision beginning in Year 3, providing potential for substantially enhanced returns.
This rare Applebee’s Corporate backed location represents a compelling opportunity for investors seeking stable, reliable cash flow from a well-established, publicly traded tenant. With strong real estate fundamentals, this offering provides immediate security and a rare prospect for meaningful future upside.
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- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
5,396 SF
Building Class
B
Year Built
1991
Price
$1,950,000
Price Per SF
$361.38
Cap Rate
7.01%
NOI
$136,787
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.41 AC
Zoning
Mid City Business Centre - Mid City Business Centre
Parking
107 Spaces (19.83 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 20-307-00-14-00100-0000 | Improvements Assessment | $155,840 |
| Land Assessment | $78,370 | Total Assessment | $234,210 |
PROPERTY TAXES
Parcel Number
20-307-00-14-00100-0000
Land Assessment
$78,370
Improvements Assessment
$155,840
Total Assessment
$234,210
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NNN Corporate Applebee's | 202 S Broadview St
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