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Patrick Forkin

Baum Realty Group, LLC

Office Phone: 312-275-3117

Cell Phone: 312-275-3117

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Published on: Friday, March 6, 2015 12:21:59 AM
Updated on: Monday, March 9, 2015 10:11:29 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Illinois-40997

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 1999


Building Size: 4,096 SqFt

Lot Size: 1 Acre

No of Stories: 1

No of Parking: 86

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing


Offer to Millionaire Club: No

Listing Summary: The restaurant is one block from I-69 with full access and within walking distance to 7 hotels. Surrounded by national retailers, including: Walmart, The Home Depot, Meijer (24 hours), Tractor Supply, Verizon, Aldi, Buffalo Wild Wings, PNC, McDonald’s and more. Applebee’s also has easy access from E. Chicago Street (US-12) and Anderson Drive and maintains high visibility in between The Home Depot and Walmart Supercenter. The restaurant can also handle a high volume of customers with 86 parking spaces. Applebee’s also has easy access from E. Chicago Street (US-12) and Anderson Drive and maintains high visibility in between The Home Depot and Walmart Supercenter. The restaurant can also handle a high volume of customers with 86 parking spaces.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 6.25

Commission Split (%): 0

Complete Details

Year Build: 1999

Building Size: 4,096 SqFt.

No of Stories: 1

Total Lot Area: 1.37 Acre

No of Parking: 86

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Heating and Cooling

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Metal

Occupancy: 100%

Full Description

Applebee’s was founded in 1980 by Bill and TJ Palmer in Decatur, GA. Today, there are approximately 2,000. Applebee’s locations that employ over 28,000 people and operate worldwide. Most Applebee’s restaurants have franchise owners, a concept made popular by the company’s founders. In 2007, IHOP bought Applebee’s International, both of which now operate under the entity of DineEquity and combined to become the largest full service restaurant company in the world. Team Schostak Family Restaurants began franchising restaurants over 30 years ago. Their portfolio started with Burger King Restaurants throughout Michigan; they currently own/operate over 60 of the fast serve locations. After successfully introducing Del Taco and Olga’s Kitchen to the state of Michigan in the early 2000’s, Team Schostak Family Restaurants acquired 65 Applebee’s statewide in 2012. Team Schostak Family Restaurants pride themselves on developing and retaining employees to ultimately give the customer the best experience possible.

Additional Properties

Property Tenants
  • TSFR Apple Investment LLC
Property Highlights
  • Baum Realty Group has been retained by the owner to sell the 100% fee simple interest Applebee’s property located in Coldwater, MI. This Absolute NNN freestanding Applebee’s is located on E. Chicago Street just steps from I-69 and is an outlot to The Home
  • Absolute NNN – zero landlord responsibilities
  • Major franchisee with 140+ locations across multiple brands (67 Applebee's)
  • Strong guarantor financials
  • Home Depot outlot and surrounded by Walmart, Gander Mountain, Meijer, Aldi and others
  • 7 hotels within walking distance
  • Brand new 2014 re-image and renovation
  • Monument signage visibility from I-69

Attached Documents

 Download | Applebees-Coldwater-OM.pdf ( 2,346.74KB)

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