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Applebee’s & IHOP Restaurant 401 E Harrell Dr 5,483 SF Retail Building Russellville, AR 72802 $4,897,427 CAD ($893.20 CAD/SF) 6.50% Cap Rate
Investment Highlights
- 20-Year Absolute NNN lease with 10% rent increases every 5 years; Proven location with direct visibility to Interstate 40
- Close proximity to Arkansas Tech University - 9,000+ students; Strong household population base with 36,000+ people within a 5-mile radius
- Applebee’s: National casual dining leader with 1,600+ locations across the U.S.; IHOP: International breakfast chain with 1,700+ locations nationwide
- Newly renovated, co-branded Applebee’s/IHOP site; Tenant has invested approximately $2 million in site improvements
- Primary exit retail cluster for Arkansas Tech University with surrounding commercial activity, hotels and national tenants attracting consumers
- 900 co-branded Applebee’s / IHOP locations projected to open
Executive Summary
Century Partners is pleased to offer a newly renovated, co-branded Applebee’s/IHOP site featuring a 20-year absolute NNN lease with 10% rent increases every five years, where the tenant has invested approximately $2 million in site improvements. Globally, co-branded locations have demonstrated significantly improved operating margins and 1.5 to 2.5 times higher sales by capturing both dayparts. This proven location benefits from direct visibility to Interstate 40 and boasts nearly 20 years of operational history under an operator with over 30 years of experience. The asset is further supported by approximately 80 parking spaces, providing strong customer access and consistent traffic.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
5,483 SF
Year Built/Renovated
2007/2025
Price
$4,897,427 CAD
Price Per SF
$893.20 CAD
Cap Rate
6.50%
NOI
$318,333 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
2.80 AC
Opportunity Zone
Yes
Zoning
Commercial
Frontage
319’ on E Harrell Dr
Amenities
- Pylon Sign
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 868-50111-003C | Improvements Assessment | $310,842 CAD |
| Land Assessment | $67,881 CAD | Total Assessment | $378,723 CAD |
Property Taxes
Parcel Number
868-50111-003C
Land Assessment
$67,881 CAD
Improvements Assessment
$310,842 CAD
Total Assessment
$378,723 CAD
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Applebee’s & IHOP Restaurant | 401 E Harrell Dr
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