Applebee's Neighborhood Bar & Grill 640 Rembert C Dennis Blvd 4,791 SF Retail Building Moncks Corner, SC 29461 $3,200,183 CAD ($667.96 CAD/SF) 7.21% Cap Rate

Applebee's is under an Absolute NNN lease structure, leaving no responsibility to the Landlord, creating a passive income investment. Additionally, the lease features 1.75% annual rent increases in December. The remaining lease term is 12 years until 12/31/2038 and they have been in this location for 25 years. No early termination clause. Strong Franchisee Guaranty, Thrive Restaurant Group.
Applebee’s is located in the main shopping district of Moncks Corner, SC, a submarket of Charleston, SC. The Charleston MSA is one of the top vacation destinations and shipping ports on the East Coast. South Carolina is ranked the 3rd most popular relocation States in the US. Boeing’s South Carolina Delivery plant is located 30 minutes away and is one of the largest employers in the region and has spurred growth in numerous supporting companies and has added new residential growth in Moncks Corner. This area also features Lake Moultrie, a water sports and fishing destination. The nearby 300 acre, Lakes of Cane Bay is a retirement community providing additional retail customer base for Moncks Corner.