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Applebee's 7345 E Washington St 5,230 SF Retail Building Indianapolis, IN 46219 $5,657,664 CAD ($1,081.77 CAD/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Store Sales - Top Ranked Store in the Country - Ranked in Top 17% in the State and Top 25% in the Nation – Placer
- Flynn Group – World’s Largest Franchisee Operator - 3rd Largest Restaurant Operator in the United States
- High-Traffic Commercial Thoroughfare - 0.4 Miles from I-465 (Over 133,100 VPD)
- Lease Guaranteed by Apple American Group LLC ( Flynn Group)- Largest Applebee’s Franchisee in Applebee’s System
- Absolute NNN Lease - Zero Landlord Responsibilities - Tenant Exercised Option Early – 5.9 Years of Lease Term
- 10 Miles from Downtown Indianapolis - MSA Pop Over 2.1 Million - Demographics – Over 210,600 Residents within a 5-Mile Radius
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire the single-tenant, absolute NNN-leased Applebee’s in Indianapolis, IN, operated by Flynn Group and guaranteed by Apple American Group LLC. Apple American, the largest Applebee’s franchisee in the system, operates over 460 Applebee’s locations across 25 states and employs over 26,500 team members. Apple American Group is a subsidiary of Flynn Group, the third-largest restaurant operator in the United States, with over $5 billion in sales. Flynn Group operates Applebee’s, Arby’s, Taco Bell, Panera, Pizza Hut, Wendy’s, Planet Fitness, and 7 Brew with over 2,900 store units in 44 states and 3 countries.
The tenant recently exercised an option early to extend the lease term to approximately 5.9 lease years. There are 7.5% rent increases every 5 years, with the next rent increase scheduled for October 2026. The store is ranked in the top 25% in the nation and top 17% in the state, with consistent sales growth over the last 5 years. The 5,230 SF casual dining restaurant is situated on a 1.34-acre parcel along E Washington Street (24,800 VPD) and is within half a mile from Interstate 465, which sees over 133,100 VPD. Nearby retailers include Kroger, ALDI, Chase Bank, Dollar General, Jiffy Lube, Firestone, Texas Roadhouse, Olive Garden, Taco Bell, Arby’s, and Steak ‘n Shake.
The trade area is densely populated with over 210,600 residents within a 5-mile radius and an average household income of over $78,800 within a 1-mile radius.
The tenant recently exercised an option early to extend the lease term to approximately 5.9 lease years. There are 7.5% rent increases every 5 years, with the next rent increase scheduled for October 2026. The store is ranked in the top 25% in the nation and top 17% in the state, with consistent sales growth over the last 5 years. The 5,230 SF casual dining restaurant is situated on a 1.34-acre parcel along E Washington Street (24,800 VPD) and is within half a mile from Interstate 465, which sees over 133,100 VPD. Nearby retailers include Kroger, ALDI, Chase Bank, Dollar General, Jiffy Lube, Firestone, Texas Roadhouse, Olive Garden, Taco Bell, Arby’s, and Steak ‘n Shake.
The trade area is densely populated with over 210,600 residents within a 5-mile radius and an average household income of over $78,800 within a 1-mile radius.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,230 SF
Building Class
C
Year Built
1996
Price
$5,657,664 CAD
Price Per SF
$1,081.77 CAD
Cap Rate
6.75%
NOI
$381,967 CAD
Tenancy
Single
Building Height
1 Story
Slab To Slab
12’
Building FAR
0.09
Lot Size
1.34 AC
Opportunity Zone
Yes
Zoning
ZO01
Frontage
247’ on E Washington St
AMENITIES
- Restaurant
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 49-10-01-118-047.000-700 | Improvements Assessment | $445,764 CAD |
| Land Assessment | $481,881 CAD | Total Assessment | $927,645 CAD |
PROPERTY TAXES
Parcel Number
49-10-01-118-047.000-700
Land Assessment
$481,881 CAD
Improvements Assessment
$445,764 CAD
Total Assessment
$927,645 CAD
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Applebee's | 7345 E Washington St
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