Applebee's 2911 Kemp Blvd 5,502 SF Retail Building Wichita Falls, TX 76308 $2,876,900 ($522.88/SF) 7.25% Cap Rate

Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% single-tenant retail property Applebee’s, located in Wichita Falls, TX. The property is ideally positioned with excellent access and visibility along one of the area’s most traveled interior thoroughfares, Kemp Boulevard (Traffic Count: 29K+ VPD), less than 1 mile from the on-ramp to US-277 (Traffic Count: 59K+ VPD). The property is also within Wichita Falls’ dominant retail and commercial corridor with 6.5 MSF of retail, 2.1 MSF of office, 840K SF of industrial and 5,151 multifamily units within a 3-mile radius.
The property sits on 1.3 acres and encompasses a 5,502 sq ft building and 98 parking spaces. Applebee’s has ±6 years of primary lease term remaining with annual rent increases throughout the term and in each of the four 5-year renewal options. Additionally, the lease features an attractive absolute net lease structure with no landlord responsibility.
Applebee’s operates the largest casual-dining chain with more than 1,500 of its signature Applebee’s Neighborhood Grill & Bar locations across the U.S. and in 11 other countries. Its eateries are primarily freestanding units and sport interiors festooned with local memorabilia to give each location an indigenous feel. About 99% of Applebee’s locations are franchised. Applebee’s is owned by casual and family dining operator Dine Brands Global, who also owns IHOP and Fuzzy's Taco Shop.
RMH Franchise Corporation was the 2nd largest Applebee's franchisee with 131+ locations. In November of 2021, RMH was acquired by Sun Holdings. Sun Holdings was founded in 1997. The company provides world-class management services to the ownership teams of some of America’s most popular restaurants. The businesses serviced include over a thousand Applebee’s, Arby's, Burger King, Freebirds World Burrito, Golden Corral, IHOP, McAlister’s, Papa John’s, Popeyes, and Taco Bueno locations in 27 states. The collective portfolio of restaurants that Sun supports makes up the 2nd largest franchisee organization in the U.S. according to the Mega 99 2024 rankings.