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Applebee’s

New Boston, Ohio

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Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 4610 Gallia St in New Boston, Ohio. The site consists of roughly 5,378 rentable square feet of building space on estimated 1.25-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 $161,303 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
✓ Prime Location Along a Main Thoroughfare | Gallia Street has an
Average Daily Traffic Count of 29,000 | Connects the Cities of New
Boston and Portsmouth
✓ Located in one of the Main Retail Hubs in New Boston | Walmart,
Arby’s, Bob Evans, Tractor Supply Co, CVS, Ollie’s Bargain Outlet,
Advance Auto and Many More
✓ Located Just East of Southern Ohio Medical Center | 220 Bed State of
the Art Medical Facility | One of the Largest Medical Centers in the
Area
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:
$2,805,267
Cap Rate:
5.75%
Annual Rent:
$161,303
Address:
4610 Gallia Street, New Boston, Ohio 45662
Lease Type:
Triple Net (NNN)

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:
+/- 1.25 Acres
Building Size:
5,378 SF
Year Built:
2002
Tenant:
Applebee’s

Broker of record

Michael Glass

License: BRK.2007005898


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