Investment Offering
Columbia, MO - Applebee's
2010 Interstate 70 Drive SW | Columbia, MO 65203
$2,700,000
Price8.41%
Cap Rate$227,109
NOI5,470
± SF Offering GLADescription
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Applebee’s investment property located in Columbia, Missouri. The tenant currently has 2+ years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Applebee’s franchise operations consisted of 1,567 Applebee’s restaurants in the United States, two U.S. territories and 15 countries outside the United States, and 47 company-operated U.S restaurants as of December 29, 2024.
Location
The subject property is located along N. Stadium Blvd which averages 16,800 VPD. The site is directly off of ramp access to Interstate 70, a major thoroughfare that averages 35,700 vehicles passing by daily. The site is an outparcel to a Marshall’s and Natural Grocers. The asset is located directly across the street from Columbia Mall, a 737,000+ SF regional mall, that is anchored by Target, Dillard’s, H&M, and many more. Other nearby national/credit tenants include Walmart Supercenter, Aldi, Starbucks, Dick’s, Old Navy, Petsmart and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is in close proximity to Smithton Middle School (532 students), Kelly’s Ridge Apartments (384 units), and Kelly Highland Apartments (229 units) further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by over 110,000 residents and 131,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property have an average household income of $93,656.
Documents & Links
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 Offering Memorandum |  |  |