279 Smokey Park Hwy
Asheville, NC 28806

Marcus & Millichap is pleased to present the exclusive listing for a 5,040-square foot freestanding Applebee’s investment located in Asheville, North Carolina. Applebee’s signed an original 20-year absolute triple net lease with over 13 years remaining which includes (4) 5-year options and 1.75% rent bumps annually. The subject property is located just off of the busy intersection of Smokey Park Highway and Interstate 40 in Asheville, North Carolina. The Applebee’s asset is within close proximity to Biltmore Estate, multiple ski resorts, Blue Ridge and Smokey Mountains, and many other attractions that draw tourists annually. The subject site is just minutes from Biltmore Park Town Square, a 1-million square foot mixed use development that includes Regal Cinemas, PF Chang’s, Barnes & Noble, over 270 apartments and housing, and a full service Hilton Hotel. The property sits near an abundance of national retailers in the vicinity that include Asheville is a city in and the county seat of Buncombe County, North Carolina, United States. It is the largest city in Western North Carolina, and the 11th largest city in North Carolina. Asheville is the principal city in the four-county Asheville metropolitan area, with a population of 424,858 in 2010. Asheville is home to the United States National Climatic Data Center (NCDC), the world's largest active archive of weather data. Asheville is located in a strong, affluent market with growing demographics that has seen a 30 percent population growth since 2000 and an average household income of over $100,000 within one mile.