Tuesday, January 27, 2009
Applebee's NNN Investment
3 year old Applebee's (I'm not a big fan of their food, although many people are)
20 year absolute NNN lease
Strong Missouri location adjacent to a Lowe's & Wal-Mart supercenter
54,000 square foot lot
7.75% Cap Rate
These are the kind of strong tenant, great NNN lease term deals that are out there now for 1031 exchanges or straight purchases. Time to trade in the management intensive fourplex for a corporate rent check every month and higher net income.