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Applebee’s

Papillion, Nebraska

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Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 1202 N. Washington St in Papillion, Nebraska. The site consists of roughly 5,014 rentable square feet of building space on estimated 1.38-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is $129,790 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options.

Optimal Lease Structure
✓ Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Approximately 16.5 Years of Lease Term Remaining
✓ Attractive Rental Increases | 1.50% Annually Starting Year 7
✓ Four (4) Tenant Renewal Periods of Five (5) Years Each
✓ Tenant / Guarantor: Legacy Apple III / Legacy Apple II (40+
Restaurants)
Compelling Location Fundamentals
✓ Dense Retail Corridor | Home Depot, Target, U.S. Bank, Goodwill,
Dollar Tree, Planet Fitness, Office Depot, McDonald’s, and Many More
✓ La Vista City Centre | Less Than A Mile From the Subject Property |
Entertainment Hub of Sarpy County | Mixed-Use Development with
Retail, Apartments, and Offices
✓ Strong Traffic Counts | North Washington Street and Giles Road|
Average 28,500 and 19,500 Vehicles Per Day Respectively
✓ Compelling Location Fundamentals | Located Less Than 15-Miles
Outside of Downtown Omaha, Nebraska
✓ Strong Demographics | Population within a Five-Mile Radius is
Approximately 183,700
✓ Affluent Community | Average Household Income within a Three-Mile
Radius Exceeds $93,600
Strong Brand, Exceptional Operator
✓ Part of the Thrive Restaurant Group Family
✓ One of the Nation’s Largest Applebee’s Franchisees
✓ Comprised of Over 5,000 Employees with Over 50 Years of Operating
Experience
✓ Operate Four Brands Consisting of Over 100 Restaurants Throughout
12 States

Key Details

Price:
$2,257,220
Cap Rate:
5.75%
Annual Rent:
$129,790
Address:
1202 N Washington Street, Papillion, Nebraska 68046

Lease Commencement:
May 24, 2021
Lease Expiration:
May 23, 2038
Lease Term Remaining:
16.5 Years
Rental Increases:
1.50% Annually Starting Year 7
Lot Size:
+/- 1.38 Acres
Building Size:
5,014 SF
Year Built:
1997
Tenant:
Applebee’s

Broker of record

Jon Ruzicka

License: 20200223


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