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Applebee's - Tampa-St Petersburg (Brandon) FL 829 Providence Rd 5,984 SF Retail Building Brandon, FL 33511 $4,999,000 ($835.39/SF) 7% Cap Rate
Investment Highlights
- 7+ Years Remaining | Annual Rental Increases | Established Brand |Strong Operator
- 125,000+ Square Foot Lake Brandon Village | Primary Retail Corridor
- Strong Demographics In 5-mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Signalized, Hard Corner Intersection | Excellent Visibility & Access
Executive Summary
• 7+ years remaining with 2 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
• The lease is guaranteed by Neighborhood Restaurant Partners, a 100+ unit franchisee
• Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States and 47 company-operated U.S restaurants as of December 29, 2024
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
• The lease is guaranteed by Neighborhood Restaurant Partners, a 100+ unit franchisee
• Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States and 47 company-operated U.S restaurants as of December 29, 2024
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,984 SF
Building Class
B
Year Built
1997
Price
$4,999,000
Price Per SF
$835.39
Cap Rate
7%
NOI
$349,930
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.27 AC
Zoning
Commercial - Commercial
Parking
52 Spaces (8.69 Spaces per 1,000 SF Leased)
Frontage
229’ on Providence Rd
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | U-28-29-20-ZZZ-000002-68780.0 | Improvements Assessment | $1,882,900 |
| Land Assessment | $100 | Total Assessment | $1,883,000 |
Property Taxes
Parcel Number
U-28-29-20-ZZZ-000002-68780.0
Land Assessment
$100
Improvements Assessment
$1,882,900
Total Assessment
$1,883,000
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Applebee's - Tampa-St Petersburg (Brandon) FL | 829 Providence Rd
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