3221 E 10th St
Sioux Falls, SD 57103
Applebee's · Retail Property For Sale

This is an excellent opportunity to purchase an investment property for $3,059,250 at 6.50% cap rate with a new 20 year lease. This NNN lease includes increases every 5 years and four 5-year options. The property is in an ideal location, with a population of 116,678 and with an average household income exceeding $70,000 within 5 miles of the property. This Applebee' s Grill & Bar is a half mile east of Interstate 229 on East 10th Street in Sioux Falls, South Dakota. Traffic counts tally at 31,700 vehicles per day on East 10th Street. Applebee' s is located on a busy retail corridor that is East of downtown Sioux Falls. The property is adjacent to Eastway Bowl and Sturdevent' s Auto Parts. Other nearby properties include Campbell' s, Taco Bell, Caribou Coffee, Einstein Bros. Bagel' s, Kentucky Fried Chicken, Kmart, Hy-Vee, Pizza Ranch, Pizza Hut, Menards, Walmart Supercenter and many more. Sioux Falls is situated on the prairie of the Great Plains at the junction of Interstate 90 and Interstate 29. The city is the largest in South Dakota and the fastest growing metro area. The metropolitan area accounts for almost thirty percent of the state' s population. Sioux Falls maintains a network of more than 70 parks and greenways that are spread throughout the city. Probably the best known of these is Falls Park, established around the city's namesake waterfalls on the Big Sioux River, just north of downtown. Partially due to the lack of a state corporate income tax, Sioux Falls is the home of a number of financial companies.