This offering presents the opportunity to acquire a single-tenant Applebee’s restaurant on an absolute NNN ground lease, located at one of the most prominent intersections in Bonney Lake—with frontage on Highway 410 (~44,000 VPD) shadow-anchored by Target and directly across from a top performing Walmart and Safeway. The asset offers zero landlord responsibilities. The Property is operated by Apple Washington LLC, a subsidiary of Flynn Restaurant Group—the largest Applebee’s franchisee in the country and one of the largest restaurant operators in the U.S., with over 2,600 locations across 44 states with six national brands. The site benefits from over 100,000 residents within a 5-mile radius and average household income of $156,000. Bonney Lake has experienced over 30% population growth since 2010, driven by ongoing residential and commercial expansion. The tenant has exercised its first 5-year renewal, extending the lease through March 31, 2030. Four (4) additional 5-year options remain, each with 10% rent increases, escalating contractual income to $157,115/year by the final term. The current rent of $107,312/year is estimated to be 30–50% below market for comparable QSR pads in the corridor. This below-market rent profile offers investors a strong re-tenanting scenario in the event they don't renew.