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Applebee's - Tampa-St Petersburg (Largo) FL 10911 Starkey Rd 4,732 SF Retail Building Largo, FL 33777 $7,479,340 CAD ($1,580.59 CAD/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 7+ Years Remaining | Annual Rental Increases | Established Brand | Strong Operator
- Outparcel to Bardmoor Promenade (170,000 SF) | Dense Retail Corridor | Nearby Schools
- Strong Demographics in 5-mile Trade Area | Six-Figure Incomes
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Signalized, Hard Corner Intersection | Excellent Visibility
EXECUTIVE SUMMARY
• The tenant currently has 7+ years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 1% annual rental increases during the initial term and options thereafter, growing NOI and hedging against inflation
• The lease is guaranteed by Neighborhood Restaurant Partners, a 100+ unit franchisee
• Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States and 47 company-operated U.S restaurants as of December 29, 2024
• The lease features 1% annual rental increases during the initial term and options thereafter, growing NOI and hedging against inflation
• The lease is guaranteed by Neighborhood Restaurant Partners, a 100+ unit franchisee
• Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States and 47 company-operated U.S restaurants as of December 29, 2024
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,732 SF
Building Class
B
Year Built
1995
Price
$7,479,340 CAD
Price Per SF
$1,580.59 CAD
Cap Rate
6.75%
NOI
$504,794 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.95 AC
Zoning
GC - General Commercial
Parking
5 Spaces (1.06 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13-30-15-00000-320-0230 | Improvements Assessment | $674,591 CAD |
| Land Assessment | $751,889 CAD | Total Assessment | $1,426,480 CAD |
PROPERTY TAXES
Parcel Number
13-30-15-00000-320-0230
Land Assessment
$751,889 CAD
Improvements Assessment
$674,591 CAD
Total Assessment
$1,426,480 CAD
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Applebee's - Tampa-St Petersburg (Largo) FL | 10911 Starkey Rd
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