Applebee’s
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Douglas Passon

Managing Partner

Robert Bender

Managing Partner

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PROPERTY ADDRESS

18290 West 12 Mile Rd., Southfield, MI 48076

PROPERTY INFORMATION

Price:
$3,760,683
Cap Rate:
5.85%
Term Remaining:
17 Years
Year Built:
2014
Status:
Available

INVESTMENT HIGHLIGHTS

  • Absolute NNN 20 Year Lease | No Landlord Responsibilities
  • 17+ Years Remaining on Lease | New Applebee’s Prototype Restaurant
  • Four, Five Year Options | 6.5% Increases Every 5 Years Including Options
  • Lease Guaranteed by TSFR Apple Venture LLC | 65 Unit Operator

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present a free-standing Applebee’s restaurant located at 18290 West 12 Mile Road in Southfield, Michigan. The lease is absolute NNN and requires no landlord responsibilities. The lease includes 6.5% rent increases every 5 years including the four, five year option periods. The lease is backed by TSFR Apple Venture LLC, a 65 unit operator.

The property is surrounded by a new 30,000 square foot retail center and luxury apartments. This commercial area serves over 280,000 residents within five miles and the daily vehicle count exceeds 46,000 cars. The median home value within three miles is over $186,000 and the average household income is over $96,000.