7831 Target Cir
Raleigh, NC 27616
Applebee's (Raleigh, NC) · Retail Property For Sale

RTP Capital Advisors is pleased to present Applebee’s in Raleigh, NC, representing an excellent opportunity to acquire a 19+ year absolute net lease in one of the most dynamic metros in the nation. Applebee’s is one of the world’s largest casual dining brands with almost 2,000 locations and expanding. The subject property is part of the Capital Boulevard/US-1 retail corridor, an important arterial road intersecting Northeast Raleigh and leading directly into the downtown. Along the way, many big box retailers such as Walmart, Target, and Bed Bath & Beyond can be found as well as popular restaurants such as Panera Bread, Chipotle, Chick-fil-A, and much more. Capital Boulevard also intersects with major area interstates 540 and 440, providing access throughout Raleigh from the greater Triangle area. Within walking distance of significant retail and single and multi-family residential, the subject property is across the street from the Triangle Town Center, a regional mall, with a Walmart just northeast. I-540’s exit 17 allows for direct access to Triangle Town Center and for direct and convenient access to much of the area’s retail. The subject property is also part of the Poyner Place shopping center, anchored by a Target, Old Navy, and more. The subject property is in an excellent location for demographics. Within a three-mile radius, an estimated 80,000 people reside, a number that is estimated to grow by another 10,000 in the next five years. The subject property is also part of the Raleigh-Cary metro area, one of the fastest growing metros since 2010 with an estimated population growth of over 70% in the next 25 years. Applebee’s in Raleigh, NC represents an excellent opportunity to acquire an absolute net leased asset with over nineteen years remaining and 1.75% annual increases in one of the most dynamic metros in the nation. We are pleased to present this investment opportunity for $2,640,000 at a 6.25% cap rate.