3219 Old Forest Rd
Lynchburg, VA 24501
Applebee's | Located in Dense Retail Corridor · Retail Property For Sale

Marcus & Millichap, on behalf of ownership is pleased to exclusively offer this fee simple Applebee’s Neighborhood Grill + Bar located in the college town of Lynchburg, Virginia. The tenant, Apple Investors Group, LLC is subject to an Absolute Triple Net lease (NNN) with over 9 years of term remaining and four, five-year options. To an investors benefit, the lease has structured rental increases of nine percent in July 2020 and ten percent in July 2023. The property consists of a 4,786 square foot building on a 1.25-acre pad site to a Walmart Supercenter anchored shopping center. Apple Investors Group, LLC, founded in 2008, operates more than 150 Applebee’s, IHOP, Burger King, and Pizza Hut locations across the nation. This Applebee’s Neighborhood Grill + Bar is strategically located on Old Forest Road in a dense retail pocket that has an average traffic count of more than 20,000 vehicles per day. Further, the property benefits from being an outparcel to a busy 24-hour Walmart Supercenter which services northern Lynchburg and the neighboring towns of Coleman Falls and Big Island. In addition to the Walmart Supercenter the property is surrounded by a synergistic mix of retailers including Taco Bell (2018 construction), Bojangles’ Famous Chicken ‘n Biscuits, Verizon Wireless, Goodwill, GameStop, Dunkin Donuts, Jiffy Lube, Advance Auto Parts, O’Reilly Auto Parts, McDonald’s, CVS, and many others. Lynchburg is located just two hours west of Richmond, Virginia and only an hour east of Roanoke, Virginia. Lynchburg is home to more than 23,000 college students across the towns five accredited colleges and universities (Liberty University, University of Lynchburg, Central Virginia Community College, Randolph College, and Sweet Briar College). Lynchburg is the 11th largest city in the state of Virginia with a total population of 82,000 people. A recent study done by the University of Virginia shows the city’s population is expected to increase by nearly 20% by 2040.