Applebee's Neighborhood Bar & Grill 640 Rembert C Dennis Blvd 4,791 SF Retail Building Moncks Corner, SC 29461 $2,450,000 ($511.38/SF) 6.79% Cap Rate
INVESTMENT HIGHLIGHTS
- Moncks Corner is a submarket of the Charleston SC region
EXECUTIVE SUMMARY
Applebee's is under an Absolute NNN lease structure, leaving no responsibility to the Landlord, creating a passive income investment. Additionally, the lease features 1.75% annual rent increases. The remaining lease term is 13 years until 12/31/2038. Strong Franchisee Guaranty, Thrive Restaurant Group (Legacy Apple).
Applebee’s is located in the main shopping district of Moncks Corner, SC, a submarket of Charleston, SC. The Charleston MSA is one of the top vacation destinations and shipping ports on the East Coast. South Carolina is ranked the 3rd most popular relocation States in the US. Boeing’s South Carolina Delivery plant is located 30 minutes away and is one of the largest employers in the region and has spurred growth in numerous supporting companies and has added new residential growth in Moncks Corner. This area also features Lake Moultrie, a water sports and fishing destination. The nearby 300 acre, Lakes of Cane Bay is a retirement community providing additional retail customer base for Moncks Corner.
Applebee’s is located in the main shopping district of Moncks Corner, SC, a submarket of Charleston, SC. The Charleston MSA is one of the top vacation destinations and shipping ports on the East Coast. South Carolina is ranked the 3rd most popular relocation States in the US. Boeing’s South Carolina Delivery plant is located 30 minutes away and is one of the largest employers in the region and has spurred growth in numerous supporting companies and has added new residential growth in Moncks Corner. This area also features Lake Moultrie, a water sports and fishing destination. The nearby 300 acre, Lakes of Cane Bay is a retirement community providing additional retail customer base for Moncks Corner.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,791 SF
Building Class
A
Year Built
2000
Price
$2,450,000
Price Per SF
$511.38
Cap Rate
6.79%
NOI
$166,452
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.48 AC
Opportunity Zone
Yes
Zoning
gc
Parking
55 Spaces (10 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 123-00-01-073 | Improvements Assessment | $1,918,400 |
| Land Assessment | $518,000 | Total Assessment | $2,436,400 |
