516 Commerce Dr - Restaurant FOR SALE


Bluefield, VA 24605
$2,700,000 USD
503-200-2061
516 Commerce Dr, Bluefield, VA for Sale
$2,700,000 USD
Restaurant - FOR SALE
1/5
null | 5.91% Cap Rate

516 Commerce Dr
Bluefield, VA 24605


HIGHLIGHTS

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • 12+ Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each
  • Tenant / Guarantor: Legacy Apple III / Legacy Apple II (200+ Restaurants)
  • Strong Traffic Counts | Highway 460 | Average Daily Traffic Counts of 18,000 Vehicles

OVERVIEW

We are pleased to present for sale this APPLEBEE'S NEIGHBORHOOD GRILL & BAR, located along the primary commercial corridor of Bluefield, Virginia, one of the most active retail nodes in the region. This freestanding restaurant sits on a well-positioned pad site within a dense national co-tenancy environment that includes Walmart, Lowe's, Sam's Club, McDonald's, Wendy's, Taco Bell, and Burger King, benefiting from exceptional visibility and access along U.S. Route 460. The subject property is corporate-operated by Legacy Apple III / Legacy Apple II, part of Thrive Restaurant Group, a seasoned multi-unit franchisee with over 50 years of experience operating more than 100 restaurants across four brands. The investment is secured by an absolute triple net lease with zero landlord responsibilities, a lease expiration of May 2038, and four five-year renewal options extending the investment runway well into the future. Contractual 1.50% annual rent escalations commencing May 2026 grow annual rent from $157,289 to $188,057 over the primary term, providing investors with predictable, compounding income growth from day one. Opened in 2005, this Applebee's has demonstrated sustained performance through multiple economic cycles and serves a broad trade area of nearly 40,000 residents within ten miles. As the world's largest casual dining chain with over 2,000 locations, Applebee's brings institutional brand recognition and everyday dining demand that makes this a truly passive, recession-resilient investment.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$459 USD /SF

CAP RATE

5.91%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

-

APN/PARCEL ID

025-A-0041A4

ASK ABOUT THIS PROPERTY

Joseph DabushMarcus & MillichapMore Info
503-200-2061

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Joseph DabushMarcus & MillichapMore Info
503-200-2061

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.