2432 E Wabash St - Restaurant FOR SALE


Frankfort, IN 46041
$1,643,000 USD
2432 E Wabash St, Frankfort, IN for Sale
$1,643,000 USD
Restaurant - FOR SALE
1/8
null | 7% Cap Rate

2432 E Wabash St
Frankfort, IN 46041


HIGHLIGHTS

  • New 10 Year Lease Extension Commenced Dec 2023 - 8% Increase in Year 6
  • Absolute Net Lease - Zero Management Responsibilities Required
  • 2023 Sales - $1,869,000 | 6.1% Rent-to-Sales Ratio
  • Tenant Recently Repaired The Parking Lot and Updated The Landscaping
  • Two (2), Five-Year Option Periods Featuring 10% Rental Increases
  • Apple American Group: Strong Lease Guarantor From The Largest Applebee's Franchisee With Over 460+ Locations in 24 States

OVERVIEW

New 10 Year Lease Extension Commenced Dec 2023 - 8%Increase in Year 6 Absolute Net Lease - Zero Management Responsibilities Required 2023 Sales - $1,869,000 | 6.1% Rent-to-Sales Ratio Tenant Recently Repaired The Parking Lot and Updated The Landscaping Two (2), Five-Year Option Periods Featuring 10% Rental Increases Apple American Group: Strong Lease Guarantor From The Largest Applebee's Franchisee With Over 460+ Locations in 24 States Outparcel To A Walmart Supercenter | Additional National Tenants In The Immediate Area Include: Lowe’s, Rural King, McDonald's, Taco Bell, Anytime Fitness Amongst Others 20,000 People Within 5 Miles of Subject Property 5 Mile Average Household Income Exceeds $62,000

FOR SALE DETAILS

PRICE

$1,643,000 USD

PRICE/SF

$347 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Applebee's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,867 SF

ZONING

C

APN/PARCEL ID

12-10-12-100-007.000-021

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