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Applebee's 2500 4th St SW
3,840 SF Retail Building Waverly, IA 50677 $1,438,000 ($374/SF) 8% Cap Rate
Investment Highlights
- The property is occupied by a single tenant on a net lease, minimizing landlord responsibilities
- Thrive Restaurant Group is a well-known, nationally successful franchise company with a diversified portfolio over 170 restaurants
- US-218 BUS, carrying approximately 15,000 VPD in the area, is the most highly traveled roadway in the entire city
- The site is an outlot to a steady traffic driver, Walmart Supercenter, the only Walmart in the city
- The parcel is located on a signalized intersection of US- 218 BUS
- With a relatively highly educated and young population, the surrounding area is primed for continued growth, as evidenced by steady population growth
Executive Summary
Thrive Restaurant Group, doing business as Applebee's, is a leading restaurant organization that operates a network of over 170 restaurants across 15 states. The company operates a number of successful brands, including Applebee’s, Carlos O’Kelly’s, and HomeGrown. Applebee's has over 1,600 locations across the U.S. and is a subsidiary of Dine Brands (NYSE: DIN), which had a market cap of approximately $712 million as of January 2023. In addition to Applebee’s, Dine Brands includes two other successful national restaurant brands, IHOP and Fuzzy’s.
The property is an outlot to a Walmart Supercenter, the only Walmart in the city of Dubuque. The site is also within close proximity to stop-by customer drivers such as the Hy-Vee, Dollar Tree, Quality Inn, and Kwik Star. Located on a signalized intersection of US-218 BUS, the parcel benefits from a clear, unobstructed view from the roadway. US-218 BUS, carrying approximately 15,000 VPD in the area, is the most highly traveled roadway in the entire city. Within a three-mile radius, average household income approximately equal to the national average and has grown at a solid pace over the last five years. With a relatively highly educated and young population, the surrounding area is primed for continued growth, as evidenced by steady population growth over the last five years.
Please see OM for more information.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
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- Accommodation and Food Services
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99,999 SF
- -
- -
There's a lot to love about Applebee's. Founded over 4 decades ago on the principles of exceptional value and family fun, they take pride in having a friendly, welcoming, neighborhood environment. They continue to set the standards for best practices in the restaurant industry. People Report has awarded them the Heart of the Workplace Award, Top Performer in Management Retention Award, Excellence in Retention Award, and Catalyst Award. Forbes named them One of America's Best Managed Companies, and Restaurant Hospitality Magazine named them Chain of the Year. They are proud of these accomplishments and believe when thousands of people embrace their responsibility to their neighborhoods, the results can be astounding.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
Accommodation and Food Services | 99,999 SF | - | - |
PROPERTY TAXES
| Parcel Number | 09-10-400-060 | Improvements Assessment | $701,250 |
| Land Assessment | $522,500 | Total Assessment | $1,223,750 |
PROPERTY TAXES
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Matt Hazelton -
Cory Villaume -
Dalton Redmon -
JLL
Presented by
Applebee's | 2500 4th St SW
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