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Applebee's
4025 South Loop 289 - Lubbock, TX 79423
Sands Investment Group is Pleased to Exclusively Offer For Sale the 5,388 SF Applebee’s NNN Asset Located at 4025 South Loop 289 in Lubbock, TX. This Deal Includes 7+ Years Remaining on a Triple Net (NNN) Lease With Zero Landlord Responsibilities and Annual Rent Increases Providing a Strong Hedge Against Inflation. This Location Features a Guarantee From RMH Franchise Holdings With Over 130 Restaurants Across 14 States. With a High Yield, Rare Annual Increases & Triple Net (NNN) Lease, This Asset Offers an Attractive Opportunity For an Investor.
- 7+ Years Remaining on a Triple Net (NNN) Lease With Zero Landlord Responsibilities
- Annual Rent Increases Providing a Healthy Hedge Against Inflation
- Strong Guarantee From RMH Franchise Holdings – Currently Operating Over 130 Restaurants Across 14 States
- Texas is an Income Tax Free State
- Strategically Located Next to a Walmart Supercenter, Providing For Outstanding Daily Traffic Counts
- Located Directly Off of Highway 289, Which Sees Over 73,000 Vehicles Per Day
- Situated Next to Other National Credit Restaurant Tenants: Outback Steakhouse, Cheddar’s, and IHOP
- 5-Miles From Texas Tech University, Enrollment of Over 41,000 Students
- Nearby National Retailers Include: Walmart Supercenter, Outback Steakhouse, IHOP, Cheddar’s, Whataburger, Krispy Kreme, Sonic, AutoZone, T.J. Maxx, Dollar Tree, Pep Boys, BJ’s Restaurant & Brewhouse, Golden Corral and More
In Cooperation With Sands Investment Group Austin, LLC – Lic. #9004706 BoR: Max Freedman Lic. TX #644481
Applebee's
4025 South Loop 289 - Lubbock, TX 79423
RMH FRANCHISE HOLDINGS, INC.
Founded in 2012, RMH Franchise Holdings, Inc. is a franchisee of Applebee’s restaurants. RMH has grown to become one of the largest Applebee’s franchisees in the United States with over 130 locations. In November 2021, RMH was sold via an equity sale from private equity sponsor ACON Investments to Apple Sun LLC (an affiliate of Sun Holdings). The concept, Applebee’s, is one of the world’s largest casual dining brands and offers guests a lively dining experience that combines simple, craveable American fare with classic drinks and local drafts. Applebee’s franchise operations consisted of 1,625 Applebee’s restaurants in the United States, two U.S. territories and 12 countries outside the United States as of June 30, 2024. Applebee’s is franchised by subsidiaries of Dine Brands Global Inc. [NYSE: DIN], which is one of the world’s largest full-service restaurant companies.
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Price
$2,699,164
Cap Rate
6.75%
PREMISES
5,388 SF
RENEWAL OPTIONS
4 x 5 Year Options
Lease Expiration
12/31/2032
Lease Type
NNN
RENTAL INCREASES
Lesser of 1.5% or 1.25x the Change in CPI
BROKERS
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To receive access to this OM, please review and sign our confidentiality agreement:
Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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