301 N 27th St
Spearfish, SD 57783
Applebee's Bar & Grill · Retail Property For Sale

This is an excellent opportunity to purchase an investment property for $2,671,430 at 6.50% cap rate with a new 20 year lease. This lease includes rent increases every 5 years, and four 5-year options. The property is in ideally located off Interstate 90, on North 27th Street with over 10,800 vehicles daily. This Applebee' s is adjacent to Holiday Inn Spearfish Convention Center, and across the street from Fairfield Inn & Suites, Quality Inn, and Hampton Inn. Other properties nearby include Walmart Supercenter, First Interstate Bank, AutoZone, Culver' s, Anytime Fitness, Subway, Kmart, Howard Johnson, Bomgaars, Perkins, KFC and many more. Spearfish, located in the northern Black Hills, is a natural escape with year-round shopping, dining and outdoor activities. Located right off Interstate 90, Spearfish is a university town with a culturally active historic downtown, Western museums, beautiful parks and a wealth of quality accommodations - all just steps away from beautiful pine forests, cascading waterfalls and fresh mountain streams. The primary tourist season in the Black Hills runs from Memorial Day weekend through Labor Day weekend, but spring, fall and winter in Spearfish are just as beautiful with vibrant foliage, more than 350 miles of groomed snowmobile trails and the beautiful Spearfish Canyon. Spearfish is located approximately 21 miles west of Sturgis, South Dakota and 48 miles northwest of Rapid City, South Dakota.