Applebee’s | 8+ Years | Absolute Net Lease | 2020 Increase | Charleston MSA

Agent Info

Matt Weber

248.702.0285
mweber@encorereis.com

Deno Bistolarides

248.702.0288
denob@encorereis.com

Brandon Hanna

248.702.0290
bhanna@encorereis.com

Request More Info

Offering Information

88 Old Trolley Road
Summerville, SC 29485

  • Price: $2,604,000
  • Cap. Rate: 7.50%
  • NOI: $195,301
  • Building Size: 4,382SF
  • Lot Size: .60 AC

Investment Highlights

  • Absolute Net Lease - Zero Management Responsibilities Required
  • Recently Remodeled Featuring Applebee’s Modern Prototype Store
  • Rental Increase December 2020
  • Lease Supports Three (3), 5-Year Option Periods With Rental Increases
  • Tenant is Apple Gold Group - 130 Applebee’s Location in 7 States
  • Attractive Location in a Densely Populated Market with Strong Demographics
  • Outpad of Summerville Galleria - 100,000 SF Center Featuring BI-LO, Armed Forces, Hertz, T-Mobile, Subway, Amongst Others
  • 5 Mile Population Surrounding the Investment Property Exceeds 131,000
  • Average Household Income Exceeds $68,000 Within a 5 Mile Radius