APPLEBEE'S 1260 South Main Street - Sikeston, MO 63801
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APPLEBEE’S
1260 South Main Street
S ik es ton, MO 63801
A CT U A L PR O PE R T Y
APPLEBEE’S | SIKESTON, MISSOURI
ON MARKET:
APPLEBEE’S IN SIKESTON, MISSOURI
A C T U AL PROPERTY
INVESTMENT HIGHLIGHTS
Applebee’s in Sikeston, Missouri Outparcel to Lowe’s Home Improvement & Adjacent to
HALFWAY POINT BETWEEN ST. LOUIS AND MEMPHIS Walmart Anchored Center
More Than 8 Years Remaining on a Triple-Net Lease (NNN) Additional Retail in the Area Include:
ZERO LANDLORD RESPONSIBILITIES WALMART SUPERCENTER, LOWE’S HOME IMPROVEMENT, ALDI,
MCDONALD’S, TACO BELL, TRACTOR SUPPLY CO, O’REILLY AUTO PARTS AND
Hedge Against Inflation
MANY MORE
10% RENT INCREASE IN 2023
Ideally Located on South Main Street
MORE THAN 14,640 VEHICLES PER DAY (VPD) | ALSO A QUARTER OF A
MILE FROM I-60 | MORE THAN 17,000 VEHICLES PER DAY (VPD)
2
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
APPLEBEE’S | SIKESTON, MISSOURI
FINANCIAL OVERVIEW 1260 SOUTH MAIN STREET
SIKESTON, MO
PRICE $1,675,000
CAP RATE 9.79%
NOI $163,956
PRICE PER SQUARE FOOT $330.44
RENT PER SQUARE FOOT $32.34
YEAR BUILT 2002
APPROXIMATE LOT SIZE 1.23 Acres
GROSS LEASEABLE AREA 5,069 SF
TYPE OF OWNERSHIP Fee Simple
AC T U AL P ROP E R T Y
LEASE GUARANTOR Apple Investors Group LLC
ANNUALIZED OPERATING DATA
LEASE TYPE Triple-Net (NNN) BASE RENT ANNUAL RENT MONTHLY RENT
CURRENT 7/31/2023 $163,956.00 $13,663.00
ROOF AND STRUCTURE Tenant Responsibility
8/1/2023 6/12/2028 $180,351.60 $15,029.30
3
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
APPLEBEE’S - Sikeston, Missouri
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Drive•In SM
SIKESTON HIGH
SCHOOL
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SUBJECT PROPERTY
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APPLEBEE’S | SIKESTON, MISSOURI
LEASE SUMMARY
LEASE COMMENCEMENT DATE 9/1/2010
LEASE EXPIRATION DATE 6/12/2028
LEASE TERM 18 Years
TERM REMAINING 8 Years
INCREASES 10% in 2023
61
62
OPTIONS TO RENEW 4, 5 Year IN
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G E N E RA L G EO R G E E DAY P K W Y
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SUBJECT PROPERTY
40
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61
62
ACT UA L PROPE RTY AC T U AL P ROP E R T Y
5
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
APPLEBEE’S | SIKESTON, MISSOURI
TENANT OVERVIEW
Applebee’s is an American company which develops, franchises, and operates the Applebee’s
Neighborhood Grill + Bar restaurant chain. The Applebee’s concept focuses on casual dining,
with mainstream American dishes such as salads, chicken, pasta, burgers, and “riblets” (which is
considered Applebee’s signature dish). The Applebee’s chain was founded by Bill and T. J. Palmer
in 1980. They opened their first location in Decatur, Georgia, at the time named T.J. Applebee’s SUBJECT PROPERTY
Rx for Edibles & Elixirs. They opened a second location outside of Atlanta, Georgia a few years
later, and sold the company to W. R. Grace and Company in 1983. As part of the transaction, Bill
Palmer was named president of the Applebee’s Division, an indirect subsidiary of W. R. Grace
and Company. In that capacity, Palmer guided the operation from its entrepreneurial beginnings
to a full-fledged franchise system. He became an Applebee’s franchisee in 1985.
On November 29, 2007, IHOP (now DineEquity) announced that it had completed a $2 billion
purchase of the Applebee’s chain. After the acquisition, IHOP Corp. changed its name to DineEquity,
Inc. With their merger in November 2007, Applebee’s and IHOP combined to make the largest
full-service restaurant company in the world, with more than 3,250 locations. On September
3, 2015, it was announced that their parent company, DineEquity, would be consolidating its
headquarters for Applebee’s and IHOP to DineEquity’s
Glendale, California, location. As of March 31, 2019,
there were 1,830 restaurants operating system-wide in
the United States and 15 other countries, including 69
that are company owned and 1,761 that are franchised.
OVERVIEW
TENANT TRADE NAME Applebee’s International, Inc.
OWNERSHIP Private
TENANT Applebee’s
LEASE GUARANTOR Apple Investors LLC
NUMBER OF LOCATIONS 18 Units
HEADQUARTERED Boynton Beach, FL
AC T U AL P R OP E R T Y
6
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
APPLEBEE’S | SIKESTON, MISSOURI
ABOUT SIKESTON
Sikeston is a city located both in southern Scott County and northern New Madrid County, in Missouri. It is the principal city of the Sikeston Micropolitan Statistical Area. By way of Interstate 55,
Interstate 57, and U.S. Route 60, Sikeston is considered the halfway point between St. Louis and Memphis and three hours from Nashville. The city is named after John Sikes, who founded it
in 1860. Sikeston is located at the intersection of I-55 and I-57, making it the only city in Missouri other than Kansas City, St. Louis, and Miner to be located on at least two interstate highways.
Other Sikeston highways include U.S. Route 60, U.S. Route 61, U.S. Route 62, and Route 114. Sikeston’s location at the intersection of U.S. Routes 60, 61, and 62 makes the city one of the few
towns located at the intersection of three consecutively numbered highways. Sikeston is the headquarters for Montgomery Bank, which is the largest privately owned, family-operated bank
in Missouri. Other major employers include Unilever, Missouri Delta Medical Center, and Walmart.
60
60
62 0 VPD
61 17,00
60
62
61
Americas
Drive•In SM
14
,64
0V
PD
SM
AIN
ST
SUBJECT PROPERTY
62
61
ACT U AL PROPERTY
7
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
DOWNTOWN ST. LOUIS
127 MILES FROM SUBJECT
APPLEBEE’S
5-Mile
3-Mile
1-Mile
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2000 Population 2,425 16,500 19,605 2000 Households 1,061 6,597 7,752 2019 Average HH Income $47,435 $51,354 $54,597
2010 Population 2,957 15,835 18,760 2010 Households 1,250 6,524 7,670 2019 Median HH Income $36,584 $37,873 $39,796
2019 Population 2,537 15,656 18,924 2019 Households 1,083 6,454 7,733 2019 Per Capita Income $20,249 $21,170 $22,310
2024 Population 2,427 15,545 18,859 2024 Households 1,039 6,408 7,704
B R OKE R HE REBY AD VI SES ALL P R O S PECTIV E PU R CHA S ER S O F N ET L EA S ED P R O P E R T Y A S F O L L O WS: T h e i n f o rm a ti o n c ontained in the follow ing Mar ket i ng B r o chur e i s p r o p r i et ar y and s t r i ct l y co nf i d ent ia l . I t i s i n t e n de d t o be re v i e w e d on l y by t h e pa rt y r e ce i vi n g i t f ro m B r oker and should not be ma d e avai l ab l e t o any o t her p er s o n o r ent i t y w i t ho ut t he w ri t t e n c on s e n t of Brok e r. T h i s Ma rke ti n g Brochur e has b een pr epar ed t o p r o vi d e s um m ar y, unver i f i ed i nf o r m at i o n t o p r o s p ect i v e pu rc h a s e rs , a n d t o e s t a bl i s h on l y a pre l i m i n a ry l e v e l o f i n te re st i n the sub ject pr oper ty . The inf o r m at i o n co nt ai ned her ei n i s no t a s ub s t i t ut e f o r a t h orou g h du e di l i g e n c e i n v e s t i g a t i on . Brok e r h a s n ot m a d e a n y i n ve sti gation, and makes no w ar r ant y o r r ep r es ent at i o n, w i t h r es p ect t o t he i nco m e o r ex p e n s e s for t h e s u bj e c t prope rt y , t h e fu t u re proj e c t e d f i n a nc i a l pe rf o rm ance of the p r oper ty , the s i z e and s q uar e f o o t age o f t he p r o p er t y and i m p r o vem e n t s , t h e pre s e n c e or a bs e n c e of c on t a m i n a t i n g su b s ta n c e s, PCB’s or asbestos, the comp liance w i t h St at e and F ed er al r egul at i o ns , t he p hys i cal co nd i t i on of t h e i m prov e m e n t s t h e re on , or t h e fi n a n c i a l co n di ti o n o r bu si ness p r ospects of any tenant , o r any t enant ’s p l ans o r i nt ent i o ns t o co nt i nue i t s o c c u pa n c y of t h e s u bj e c t prope rt y . T h e i n form a t i on co n ta i n e d i n th i s Mar keting B r ochur e has b ee n o b t ai ned f r o m s o ur ces w e b el i eve t o b e r el i ab l e; ho w e v e r, Brok e r h a s n ot v e ri fi e d, a n d w i l l n ot v e ri fy , a n y o f th e i n f o rm ation contained her ein, nor has B r o ker co nd uct ed any i nves t i gat i o n r egar d i ng t hes e m a t t e rs a n d m a k e s n o w a rra n t y or re pre s e n t a t i on w ha tso e ve r re ga rding the accur acy or comp letenes s o f t he i nf o r m at i o n p r o vi d ed . Al l p o t ent i al b uyer s m u s t t a k e a ppropri a t e m e a s u re s t o v e ri fy a l l of t h e i nf o rm a ti o n se t f o r th her ein. NO N -ENDOR SEMEN T NOTICE Br o ke r i s n o t a f f i l iated w ith, sponsor ed b y , o r end o r s ed b y any co m m er ci al t enant o r l es s ee i d ent i f ie d i n t h i s m a rk e t i n g pa c k a g e . T h e pre s e n c e of a n y co r po ra ti o n ’s l o go or name is not intend ed to i nd i cat e o r i m p l y af f i l i at i o n w i t h, o r s p o ns o r s hi p o r e n dors e m e n t by , s a i d c orpora t i on of Brok e r, i t s a f f i l i a te s o r su bsi diar ies, or any agent, pr oduc t , s er vi ce, o r co m m er ci al l i s t i ng o f B r o ker , and i s s o l el y i n c l u de d for t h e pu rpos e of prov i di n g t e n a n t l e s s e e i nf o rm a ti o n a bo u t this listing to pr ospectiv e cus t o m er s . A L L P R O PER TY SH OWINGS A RE B Y A P P OINTME N T ON LY . P LEASE C ON SULT Y OUR B ROK ER AG EN T F OR M OR E D E T A I L S .
C O N TA C T U S :
MICHAEL GRUNBERG
LICENSED REAL ESTATE SALESPERSON
mgrunberg@sabcap.com
t. 646.809.8837
BRETT GOTTSEGEN
LICENSED REAL ESTATE SALESPERSON
bgottsegen@sabcap.com
t. 646.809.8856
BROKER OF RECORD
Brent Roberts
broberts@blockllc.com
t. 816.932.5520
Block Real Estate Services LLC
LICENSE #: 00044663 (MO)
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