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APPLEBEE’S, Fort Wayne, IN

APPLEBEE’S

Fort Wayne, Indiana

Price $3,074,000
Cap Rate 6.35%
NOI $195,172
Lease Term 7+ Years Remaining
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 1% Annual Rental Increases
Year Built 2004
Building Size ±5,487 SF
Lot Size 1.53 Acres (66,586 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

ABSOLUTE NNN LEASE TO ESTABLISHED TENANT WITH 7+ YEARS REMAINING
» Absolute NNN lease with 7+ years remaining
» 1% annual rental increases
» Operated by RMH Franchise with portfolio of 131 locations in 14 states
» Applebee’s has almost 1,680+ locations in the U.S. and around the world

INFILL LOCATION IN A DENSE RETAIL CORRIDOR WITH ACCESS TO OVER 59K DAILY VEHICLES
» High-visibility location with access to 59,049 combined daily vehicles at a busy signalized intersection with beneficial proximity to Interstate 69 (70,773 AADT)
» Outparcel to Meijer within a dense retail corridor with nearby notable tenants such as Costco Wholesale, Sam’s Club, Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, and numerous others attracting significant crossover traffic
» 14 hotels with over 1,200 guestrooms within a five-minute drive of the site
» Less than a mile from Smith Field Airport and 18 miles from Fort Wayne International Airport (approximately 800,000 annual passengers)
» Convenient location near Carroll High School (2,412 students), Northrop High School (2,046 students), and Washington Center Elementary School (488 students)

STRONG IMMEDIATE CUSTOMER BASE POISED FOR STEADY FUTURE GROWTH
» Population of 130,750 within a five-mile radius (7% growth since 2010)
» $77,186 average annual household income within five miles (17% projected growth by 2027)
» Five miles from Downtown Fort Wayne, the second-most populous city in Indiana (263,886 population)
» Close to popular area attractions such as Allen County Fairgrounds and the Fort Wayne Children’s Zoo (northeast Indiana’s largest tourist attraction, hosting more than 600,000 guests annually)
» Fort Wayne and Allen County businesses welcome more than 6.5 million visitors and $741.6 million in visitor expenditures annually


Property Description

» Applebee’s has excellent visibility and is prominently located along State Road 3/Lima Road with access to a combined 59,049 daily vehicles at a busy signalized intersection
» The property is an outparcel to Meijer and is strategically located within a dense retail corridor with nearby notable tenants such as Costco Wholesale, Sam’s Club, Lowe’s Home Improvement, The Home Depot, and numerous others attracting significant crossover traffic
» The site is within a five-minute drive of 14 hotels with over 1,200 guestrooms and located conveniently near Carroll High School (2,412 students), Northrop High School (2,046 students), and Washington Center Elementary School (488 students)
» The property is less than a mile from Smith Field Airport, 18 miles from Fort Wayne International Airport (approximately 800,000 annual passengers), and five miles from Downtown Fort Wayne (the second-most populous city in Indiana with 263,886 residents)
» Fort Wayne and Allen County businesses welcome more than 6.5 million visitors and $741.6 million in visitor expenditures annually
» The location is supported by a population of 130,750 with an average annual household income of $77,186 within a five-mile radius
» The population has grown 7% since 2010 and the average annual household income is projected to increase 17% by 2027 poising Applebee’s and Fort Worth for significant concurrent growth

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