Freestanding Single-Tenant
For Sale
Contact for pricing
202 S Broadview St, Cape Girardeau, MO 63703
Freestanding single-tenant restaurant on a 1.41-acre lot with an absolute NNN lease and zero landlord responsibilities.
Property Size5,396 SF
Lot Size1.41 Acres
Price / SF$361.38
Days on Market711
Property Features for 202 S Broadview St
General Information
Standard status
Active
Size
5,396 SF
Lot size
1.41 Acres
Property subtype
RETAIL
Building Details
Tenancy
Single
Listing Agency:
Current Real Estate Advisors
(305) 783-8890
Listed By:
Alejandro Snyder · License #SL3456361
(305) 783-8890
Source:
Moodyscre
Added: Sep 3, 2024
Changed: Jul 25
Last Checked: Jul 25 at 3:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Current Real Estate Advisors
Investment Insights
Based on property information with market context.
The property is a freestanding, single-tenant restaurant building offered as a sale-leaseback with an absolute NNN lease executed at COE and zero landlord responsibilities. The offering includes a brand new 7.5-year lease with 10% rent bumps every 5 years, with the first bump scheduled for 2027. The lease also provides four 5-year options, reflecting the operator’s commitment to the location.
The asset is located at 202 S Broadview St, Cape Girardeau, MO 63703, on a 1.41-acre lot. The current opportunity is positioned as a long-term, stable cash-flow structure tied to the operator’s continued presence.
The building is specifically described as an Applebee’s location and is available for acquisition individually or as part of a portfolio.
The asset is located at 202 S Broadview St, Cape Girardeau, MO 63703, on a 1.41-acre lot. The current opportunity is positioned as a long-term, stable cash-flow structure tied to the operator’s continued presence.
The building is specifically described as an Applebee’s location and is available for acquisition individually or as part of a portfolio.
Key Highlights
- Freestanding single‑tenant Applebee’s restaurant building totaling 5,396 SF on a 1.41‑acre lot in Cape Girardeau, MO
- Absolute NNN lease to be executed at COE with zero landlord responsibilities
- Brand new 7.5‑year lease term with 10% rent bumps every 5 years (first bump in 2027)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,547
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,090,940
$1.1M
Cap Rate 7%
$779,243
$779.2K
Cap Rate 9%
$606,078
$606.1K
Market Conditions
NOI Build-Up for 5,396 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$75.8K $14.04/SF
− Vacancy
−$3.0K −$0.56/SF
EGI
$72.7K $13.48/SF
− OpEx
−$18.2K −$3.37/SF
NOI
$54.5K $10.11/SF
Area
Cape Girardeau County, MO
Vacancy
4.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,090,940
Cap Rate 7%
$779,243
Cap Rate 9%
$606,078
Alternative Uses
Best Use
Specialty Retail
$779.2K
$681.8K – $909.1K
NOI $54,547 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,163 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
420k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Groceries 29%
Dining 29%
Apparel 5%
Hobby Lobby
Shops & Services
56,739 visits/mo
0.2 miles
Schnucks
Groceries
49,791 visits/mo
0.2 miles
Walmart Neighborhood Market
Groceries
46,893 visits/mo
0.4 miles
Huck's
Shops & Services
28,887 visits/mo
0.4 miles
Culver's
Dining
28,406 visits/mo
0.5 miles
Demographics for 63703, MO
8,599
Population
4,182
Households
2.1
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
12.9 sq mi
ZIP Area
667
Density / Sq Mi
$36,909
Median Household Income
$28,121
Median Earnings
$843
Median Rent
$127,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding single-tenant restaurant on a 1.41-acre lot with an absolute NNN lease and zero landlord responsibilities.
Where is this conventional restaurant located?
The property is located at 202 S Broadview St Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Freestanding single‑tenant Applebee’s restaurant building totaling 5,396 SF on a 1.41‑acre lot in Cape Girardeau, MO; Absolute NNN lease to be executed at COE with zero landlord responsibilities; Brand new 7.5‑year lease term with 10% rent bumps every 5 years (first bump in 2027)
