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Applebee's Net Lease Investment | 6.85% Cap Rate

Bull Realty is pleased to offer this NNN leased casual dining Applebee’s in the popular tourist venue, Toccoa, GA, which is located in the northeastern corner of the state. Built in 1994 on approximately 1.40 acres, the highly visible restaurant is located on the major north-south commercial artery in Toccoa, S. Big A Road, with traffic counts exceeding 18,000 vehicles per day. Major area retailers include Walmart, Belk and Sears. Other nearby retailers include Rite Aid, Badcock & More, Bealls, Dollar Tree, and many quick service restaurants such as McDonald’s, Bojangles’, Zaxby’s, Wendy’s and more!

The tenant is the Apple Gold Group, one of the original five Applebee’s franchisees. The company operates over 130 restaurants across 7 states (NC, SC, GA, KY, IN, OK and AR). Six and a half years remain on the original lease term with four 5-year options and annual rent increases.

  • 20-year absolute NNN lease runs through June 2024
  • Four 5-year options
  • 1.75% annual rent bumps through June 2019. 1.25% thereafter and through options
  • Nearby traffic counts averaged between 18,000 and 23,400 vehicles per day in 2015
  • 5-mile population approximately 19K
  • Interior remodeled in November 2011. Over $100K invested in new carpet, wall coverings, and new décor.

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