Applebee’s | Naples

Applebee’s | Naples

Applebee’s | Naples
5082 Airport Pulling Road North
Naples, FL 34105

4,060,000

Cap Rate 6.00%
Gross Leasable Area (GLA) 4,909 Sq.Ft.
Price Per Square Foot (GLA) $827
Year Built 1995
Lot Size 0.68 Acres
  • Located on Airport Pulling Road, Just Off Pine Ridge Road With a Combined Average Daily Traffic Count of 84K+
  • Located in the Center of a Busy Retail Corridor Surrounded by Target, Publix, Bealls and Ross
  • Doherty Enterprises Inc. – Guaranteed Lease by Regional Powerhouse Franchisee With 140+ Restaurants
  • Unparalleled Trade Area Demographics
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Applebee’s | Naples (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to present for sale this absolute-net leased, fee-simple Applebee’s which is operated by Doherty Enterprises, Inc, a franchisee of seven national restaurant brands with over 140 locations throughout Florida, Georgia, New York, and New Jersey. The lease is guaranteed by Doherty Apple Florida, LLC, a subsidiary of Doherty Enterprises with an estimated 43 locations.

This well-located Applebee’s is near the corner Airport Pulling Road and Pine Ridge Road, a major intersection in Naples. It is an outparcel to a 50,000+ square-foot shopping center anchored by Walmart and across the street from a Publix anchored shopping center and Target anchored shopping center. This restaurant benefits from the heavy traffic of surrounding retailers. Adjacent outparcels include Fifth Third Bank, Boston Market, Wells Fargo, CVS, Arby’s, Taco Bell, Bank of America and Chase Bank.

Pine Ridge Road is the main East-West thoroughfare that connects I-75 and the city of Naples with an average daily traffic count of over 44,000 cars per day. Airport Pulling Road is a major North-South artery within the city of Naples and provides direct access to several dozen planned residential developments, high income golf communities, and is a convenient bypass for locals to avoid the heavy traffic on I-75.

Naples is a principal city of the Naples-Marco Island, Florida MSA, which has a population of 322,000+. With a convenient location in southwest Florida, Naples is known for its world class fishing and average annual temperature of 75 degrees. It is one of the wealthiest cities in the United States, with the second highest proportion of millionaires per capita in the US.

This is an excellent opportunity to acquire a strategically located passive, absolute net leased investment that benefits from Florida’s No State Income Tax.

For More Information, Please Contact:

Jim Shiebler

Associate
(239) 789-4821
Jim.Shiebler@MarcusMillichap.com