899 E Spring St
Signal Hill, CA 90755
Applebees's · Retail Property For Sale

Faris Lee Investments is pleased to present the rare opportunity to acquire the leased fee interest (land) in a freestanding, absolute NNN ground leased Applebee’s, located within the dominant Home Depot anchored community center in Signal Hill (Long Beach), CA. The property has 15 years of initial remaining lease term and over 14 years worth of options to extend, with 10% increases every 5 years throughout the potential 34.9 years of term. This provides an investor long term security and stability, and hedges against inflation well into the future. Additionally, this NNN lease structure is ideal for a 1031 exchange investor, providing zero landlord responsibilities and ease of management for an investor. The Tenant - Apple SoCal LLC d.b.a. Applebee’s: The Franchisee Flynn Restaurant Group operates more than 465 restaurants throughout 26 states. Also owns and operates more than 280 Taco Bell franchises and 131 Panera Bread franchises throughout the United States. Applebee’s is located within the Signal Hill Gateway community center, which is home to an unparalleled tenant roster of top industry anchor and daily-needs tenants including Home Depot, In-N-Out, Petco, Dollar Tree and Ross, driving extremely high crossover foot traffic to the subject property. The property enjoys excellent signage, street frontage along California Avenue and East Spring Street, and multiple monument signs visible from one of the busiest freeways in Southern California, I-405 (333,800 VPD). The Property is also within close proximity to Long Beach Memorial Hospital, which has more than 450 beds. The city of Signal Hill is adjacent to Long Beach, which is the seventh largest city in California. With over 5,000 residential units planned or under construction, Downtown Long Beach has become one of Southern California’s prime real estate markets. It is also a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. Some of Southern California’s best attractions can be found just a few miles from the area, including the Aquarium of the Pacific, the Queen Mary Oceanliner, and Disneyland. Signal Hill Gateway benefits from its position in one of the most affluent and densely populated areas in Southern California. Over 596,600 people with an average income of over $86,000 reside within 5 miles of the property and the high-income areas of Rancho Palos Verdes and Belmont Shore are just a short drive from the center.