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Applebee's 680 Southbridge St 5,479 SF Retail Building Auburn, MA 01501 $2,534,953 CAD ($462.67 CAD/SF) 6.50% Cap Rate

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Investment Highlights

Long Term Ground Lease
Strong Operator
Strategic Retail Location

Scheduled Rent Increases
Zero Management Responsibilities
High Traffic Counts

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant Applebee’s investment property located at 680 Southbridge Street in Auburn, Massachusetts (the “Property”). Applebee’s has been at this location since 1999, originally operating under a 20-year, Absolute NNN Ground Lease. Applebee’s has since exercised two of their 5-year options, demonstrating their commitment to the site and the market. The ground lease currently has 3+ years of term remaining followed by two (2), 5-year renewal options. The lease features rent increases at the start of each of the remaining renewal options. Applebee’s is strategically located along Southbridge Street in Auburn’s primary commercial corridor, situated next to the signalized intersection with Faith Avenue and Goulding Drive, which provides strong visibility, frontage, and convenient access. The Property benefits from excellent regional connectivity, located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), allowing for efficient access to Worcester, Boston, and surrounding Central Massachusetts communities. The surrounding retail environment is well established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, all of which contribute to consistent consumer traffic and sustained activity within the trade area.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

5,479 SF

Building Class

Year Built

2000

Price

$2,534,953 CAD

Price Per SF

$462.67 CAD

Cap Rate

6.50%

NOI

$164,772 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.07

Lot Size

1.79 AC

Frontage

200’ on Southbridge St

Bus Line

Pylon Sign

Signage

Signalized Intersection

Major Tenants

Accommodation and Food Services
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There's a lot to love about Applebee's. Founded over 4 decades ago on the principles of exceptional value and family fun, they take pride in having a friendly, welcoming, neighborhood environment. They continue to set the standards for best practices in the restaurant industry. People Report has awarded them the Heart of the Workplace Award, Top Performer in Management Retention Award, Excellence in Retention Award, and Catalyst Award. Forbes named them One of America's Best Managed Companies, and Restaurant Hospitality Magazine named them Chain of the Year. They are proud of these accomplishments and believe when thousands of people embrace their responsibility to their neighborhoods, the results can be astounding.