3900 Merle Hay Rd
Des Moines, IA 50310
Applebee’s: Absolute NNN Near University · Retail Property For Sale

Applebee’s has two years remaining on the 3rd 5-year renewal option, with one remaining 5-year renewal option. The parent company, Sasnak Management Corp. owns & operates Carlos O’Kelly’s (18 locations in 6 states), The Good Egg (1 location in Wichita), HomeGrown (1 location in Wichita), and an Applebee’s franchise (33 locations in 4 states). This location has been successfully open and operating for over 20 years, and the tenant is currently in their 3rd renewal option-showing commitment to this location. Applebee’s is located in Des Moines, Iowa just off the harder corner on Merle Hay Rd and Douglas Ave with excellent drive by visibility. This asset is a pad site to Merle hay Mall (1,060,000 SF) which is anchored by Target, Kohl’s & Flix Brewhouse. Nearby retailers to the subject location include: Hobby Lobby, Burlington, Harbor Freight Tools, Northern Tool + Equipment, Big Lots, Office Depot, Price Chopper, Dollar Tree, etc. Applebee’s is less than 4 miles from Drake University (enrollment of 4,900), 4 miles from Broadlawns Medical Center (200 beds), and 2.5 beds from VA Central Iowa Health System (386 beds). In Association with Iowa Local Broker: Elliott Realty Group – Broker License # T05698000