APPLEBEE'S | 2309 N US Highway 67
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APPLEBEE'S 2309 N US Highway 67
5,740 SF Retail Building Florissant, MO 63033 $5,702,952 CAD ($994 CAD/SF) 7.55% Cap Rate
Executive Summary
LONG TERM ABSOLUTE NNN LEASE – There are ±14 years remaining on the lease and there are zero landlord responsibilities or expenses, providing 100% passive income to the landlord.
HIGH PERFORMING LOCATION – The tenant has consistently performed above the average systemwide store sales for Applebee’s and the landlord benefits from additional percentage rent. Contact broker for more details.
TOP 90TH PERCENTILE – The property ranks in the top 90th percentile for all Applebee’s restaurants per AlphaMap data.
HEAVY TRAFFIC RETAIL CORRIDOR – The property is strategically positioned off Highway 67 (Lindbergh Blvd) which sees over ±28,000 cars per day.
TARGET OUTPARCEL – The property is an outparcel to Target and benefits from many other national retailers close by including ALDI, Michaels, Home Depot, and Walmart Supercenter to name a few.
ST. LOUIS MSA – The property is located in Florissant, MO which is the largest city in St. Louis County and is in close proximity to the St. Louis Lambert International Airport.
NATIONAL TENANT – Applebee’s Grill + Bar, a subsidiary of DineEquity, INC. is one of the largest casual dining restaurant chains in the world with over 1,660 locations.
Broker of Record
Kyle Matthews
License No. 2022018843 (MO)
HIGH PERFORMING LOCATION – The tenant has consistently performed above the average systemwide store sales for Applebee’s and the landlord benefits from additional percentage rent. Contact broker for more details.
TOP 90TH PERCENTILE – The property ranks in the top 90th percentile for all Applebee’s restaurants per AlphaMap data.
HEAVY TRAFFIC RETAIL CORRIDOR – The property is strategically positioned off Highway 67 (Lindbergh Blvd) which sees over ±28,000 cars per day.
TARGET OUTPARCEL – The property is an outparcel to Target and benefits from many other national retailers close by including ALDI, Michaels, Home Depot, and Walmart Supercenter to name a few.
ST. LOUIS MSA – The property is located in Florissant, MO which is the largest city in St. Louis County and is in close proximity to the St. Louis Lambert International Airport.
NATIONAL TENANT – Applebee’s Grill + Bar, a subsidiary of DineEquity, INC. is one of the largest casual dining restaurant chains in the world with over 1,660 locations.
Broker of Record
Kyle Matthews
License No. 2022018843 (MO)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,740 SF
Building Class
B
Year Built
1995
Price
$5,702,952 CAD
Price Per SF
$994 CAD
Cap Rate
7.55%
NOI
$430,649 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Land Acres
1.60 AC
Zoning
B5 - a business development zone that is typically used for businesses that require large floor areas, such as warehouses, distribution centers, and bulky
Parking
147 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
180 ft on N US Highway 67
Amenities
- Restaurant
- Signage
- Wheelchair Accessible
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 07J-34-0302 | Improvements Assessment | $439,880 CAD |
| Land Assessment | $250,944 CAD | Total Assessment | $690,824 CAD |
PROPERTY TAXES
Parcel Number
07J-34-0302
Land Assessment
$250,944 CAD
Improvements Assessment
$439,880 CAD
Total Assessment
$690,824 CAD
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Blake Wagenseller -
Josh Lesaca -
Connor Olandt -
Alex DeSoto -
Matthews Real Estate Investment Services
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APPLEBEE'S | 2309 N US Highway 67
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