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

$1,185,000 price

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.

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