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Applebee's 680 Southbridge St 5,479 SF Retail Building Auburn, MA 01501 $1,846,153 ($336.95/SF) 6.50% Cap Rate
Investment Highlights
- Long Term Ground Lease
- Strong Operator
- Strategic Retail Location
- Scheduled Rent Increases
- Zero Management Responsibilities
- High Traffic Counts
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant Applebee’s investment property located at 680 Southbridge Street in Auburn, Massachusetts (the “Property”). Applebee’s has been at this location since 1999, originally operating under a 20-year, Absolute NNN Ground Lease. Applebee’s has since exercised two of their 5-year options, demonstrating their commitment to the site and the market. The ground lease currently has 3+ years of term remaining followed by two (2), 5-year renewal options. The lease features rent increases at the start of each of the remaining renewal options. Applebee’s is strategically located along Southbridge Street in Auburn’s primary commercial corridor, situated next to the signalized intersection with Faith Avenue and Goulding Drive, which provides strong visibility, frontage, and convenient access. The Property benefits from excellent regional connectivity, located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), allowing for efficient access to Worcester, Boston, and surrounding Central Massachusetts communities. The surrounding retail environment is well established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, all of which contribute to consistent consumer traffic and sustained activity within the trade area.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,479 SF
Building Class
B
Year Built
2000
Price
$1,846,153
Price Per SF
$336.95
Cap Rate
6.50%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.79 AC
Frontage
200’ on Southbridge St
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Applebee's began in 1980 as a neighborhood-style restaurant concept in Decatur, Georgia, and later evolved into Applebee's Neighborhood Grill + Bar. The company develops, franchises, and operates casual dining restaurants centered on American grill-and-bar fare, including burgers, chicken, salads, pasta, ribs, and drinks. Applebee's maintains a broad presence across North America, Latin America, and the Middle East, with a large global restaurant network and ongoing franchise growth and refranchising activity.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | AUBU-000061-000000-000040 | Improvements Assessment | $549,800 |
| Land Assessment | $567,600 | Total Assessment | $1,117,400 |
Property Taxes
Parcel Number
AUBU-000061-000000-000040
Land Assessment
$567,600
Improvements Assessment
$549,800
Total Assessment
$1,117,400
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