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$1,729,000 / 4179ft2 - Investment- Applebee's for Sale (Belvidere)

2126 Gateway Center St, Belvider, IL 61008

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2126 Gateway Center St
4179ft2
license info: RRE-BRO-LIC-99389
apartment
laundry on site
off-street parking

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Applebee's investment opportunity in Belvidere, IL. This is a high-profile location in a strong retail corridor next door to Walmart Supercenter, Starbucks, Verizon, Dunkin Donuts and much more. This property consist of a 4,179 SF building built in 2015 on a 1.37 acre lot. There are 5 years remaining on an initial 10 year absolute NNN lease with 2% annual increase every September. 6.78% Cap Rate. There are five extensions of two years each. Applebee's is located off of I-90 and the main Belvidere city exit. The traffic count on 1-90 is 52,700/day, and the two access roads are 16,000 & 15,500/day, giving a combined AADT of over 84,000 cars per day! The growing town has a population of 25,585, and is a suburb of Rockford, IL with a population of 147,000.

post id: 7917571433

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