INVESTMENT OVERVIEW:
Price: $4,615,384
CAP Rate: 6.50%
Net Operating Income: $300,000
INVESTMENT HIGHLIGHTS:
ABSOLUTE NNN LEASES
100% FEE SIMPLE INTEREST
ZERO LANDLORD OBLIGATIONS
ANNUAL INCREASES IN RENT
NEARBY HOME DEPOT AND WALMART IN BOTH LOCATIONS
EXCELLENT VISIBILITY
APPLEBEE’S ROYAL PALM BEACH, FL
The subject property is a 4,681 square foot Applebee’s restaurant located in Royal Palm Beach, Florida. The NNN lease has over nine years remaining on the initial term and is guaranteed by Doherty Apple Florida GE, LLC. There are scheduled 1% annual increases in rent and calls for zero landlord obligations. This asset is situated in a major retail trade area and surrounded by national retailers including The Home Depot, Walmart and Lowe’s.
APPLEBEE’S NORTH PORT, FL
The subject property is a 5,031 square foot Applebee’s restaurant located in North Port, Florida. The NNN lease has over nine years remaining on the initial term and is guaranteed by Doherty Apple Florida GE, LLC. There are scheduled 1% annual increases in rent and calls for zero landlord obligations. This asset is situated in a major retail trade area and surrounded by national retailers including Home Depot, Walmart and a retail strip center.
