Applebee's 1650 Tappahannock Blvd

Investment Highlights

Long Term Lease Strong Operator Strategic Location Attractive Rent Increases Zero Management Responsibilities Strong Traffic Counts

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant Applebee?s investment property located at 1650 Tappahannock Boulevard in Tappahannock, Virginia (the ?Property?). Applebee?s has been at this location since 2008 and has 4 years remaining on their Absolute NNN Lease with four (4), 5-year renewal options. The lease calls for attractive rent increases every five years throughout the primary lease term and at the start of each renewal option. Applebee?s is strategically located along Tappahannock Boulevard (US Routes 17 & 360), the area?s primary commercial and commuter corridor. The Property is an outparcel to a Walmart Supercenter, enjoys outstanding frontage and visibility, and is surrounded by national retailers that drive traffic to the area. Additionally, the Property is close to several nationally branded hotels, the VCU Health Tappahannock Hospital, and several area schools that provide a built-in customer base.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    9,504
• Building Class    C
• Year Built    2004
• Price    1,999,907
• Price Per SF    210
• Cap Rate    8.35
• NOI    166,992
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.10
• Land Acres    2.25 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.