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Applebee's | Absolute NNN | (NYSE: DIN) 608 S. Air Depot Boulevard 4,847 SF Retail Building Midwest City, OK 73110 $2,572,218 CAD ($530.68 CAD/SF) 5.75% Cap Rate
Investment Highlights
- Corporate Guaranty (NYSE: DIN) | 10% Increases Every 5 Years
- Dense Retail Corridor | Near 196-Bed SSM Health St. Anthony Hospital
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics and Daytime Population in 5-Mile Trade Area
Executive Summary
• Lease corporately guaranteed by Dine Brands Global, Inc. (NYSE: DIN) — the publicly traded parent of Applebee’s and IHOP, with 1,520+ locations across the U.S. and 17 countries
• Scheduled 10% rental increases every five years throughout the base term and option periods provide steady NOI growth and an attractive inflation hedge
• A Dine Brands affiliate executed a new lease in 2025 with approximately 9 years remaining plus four (4) 5-year renewal options, demonstrating long-term commitment to the site
• Scheduled 10% rental increases every five years throughout the base term and option periods provide steady NOI growth and an attractive inflation hedge
• A Dine Brands affiliate executed a new lease in 2025 with approximately 9 years remaining plus four (4) 5-year renewal options, demonstrating long-term commitment to the site
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,847 SF
Building Class
B
Year Built/Renovated
1999/2021
Price
$2,572,218 CAD
Price Per SF
$530.68 CAD
Cap Rate
5.75%
NOI
$147,873 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.43 AC
Zoning
SPUD - Simplified Planned Unit Development
Parking
103 Spaces (21.25 Spaces per 1,000 SF Leased)
Frontage
274’ on Air Depot Blvd
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 150414527 | Improvements Assessment | $186,652 CAD |
| Land Assessment | $78,431 CAD | Total Assessment | $265,083 CAD |
Property Taxes
Parcel Number
150414527
Land Assessment
$78,431 CAD
Improvements Assessment
$186,652 CAD
Total Assessment
$265,083 CAD
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Applebee's | Absolute NNN | (NYSE: DIN) | 608 S. Air Depot Boulevard
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