Highlights
• Frontage 189’ on South Broadview Street
Description
Current Real Estate Advisors is pleased to present the opportunity to acquire Applebee’s – Cape Girardeau (the “Property”), a freestanding ±5,396 SF single-tenant building situated on a 1.41-acre parcel in Cape Girardeau, MO. In November 2024, Applebee’s Corporate assumed operations and executed a brand-new Absolute NNN 10-year lease, underscoring their confidence in the location and its strong performance. The lease is secured by a corporate guaranty from Applebee’s International, Inc., offering zero landlord responsibilities and featuring 2, 5-Year renewal options with 10% rent escalations at each renewal. Additionally, the lease includes a Percentage Rent provision beginning in Year 3, providing potential for substantially enhanced returns. This rare Applebee’s Corporate backed location represents a compelling opportunity for investors seeking stable, reliable cash flow from a well-established, publicly traded tenant. With strong real estate fundamentals, this offering provides immediate security and a rare prospect for meaningful future upside.
Listing Details
- Cap Rate
6.51%
- Tenancy
Single
- Space Type
Retail
- Sub Category
Restaurant
- Sale Type
1031 Exchange
- Date Listed
5/9/2025
- Net Operating Income
$136,787
- Parking Info
107 Spaces (19.83 Spaces per 1,000 SF Leased)
- Building FAR
0.09
Property Specifics
- Property Name
Applebee's | 202 S Broadview St
- Property Class
B
- No of Buildings
1
- No of Stories
1
- Year Built
1991
- Building Size
5,396 SF
- Lot Size
1.41 Ac
- APN
20-307-00-14-00100-0000
- Zoning
Mid City Business Centre - Mid City Business Centre