Applebee’s Grill & Bar
For Sale
$2,635,000
15351 US-441, Eustis, FL 32726
Single-tenant restaurant with a corporate-guaranteed lease and annual rent increases.
Property Size5,750 SF
Lot Size1.39 Acres
Price / SF$458.26
Days on Market48
Property Features for 15351 US-441
General Information
Standard status
Active
Size
5,750 SF
Lot size
1.39 Acres
Property subtype
Restaurant
Lease Type
NNN
Site & Location
Traffic Count
50,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
Brand-New 10-Year Corporate Lease
Corporate Guaranty • Dine Brands
Publix Outparcel Position
Top-Performing Applebee's Location
Premier US-441 Corridor Exposure
Deep Employer & Demand Base
Building Details
Building Size
5,750 SF
Tenancy
Single
Listing Agency:
Orange County Office
Listed By:
Kyle Blatt · License #License(s): CA: 02017976
(949) 419-3315
Source:
Marcusmillichap
Added: Sep 1
Changed: Oct 18
Last Checked: Oct 16 at 5:50AM
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 Orange County Office
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Investment Insights
Based on property information with market context.
Applebee’s Grill & Bar occupies a single-tenant restaurant property on a 1.39-acre site in Eustis, Florida. The property is identified as a Publix outparcel and is subject to a new 10-year corporate-guaranteed lease with Dine Brands Global, Inc. The lease begins June 1, 2026, and includes 2% annual rent increases.
The restaurant fronts US-441, a commercial corridor with reported traffic exceeding 50,000 vehicles per day. Surrounding demand drivers include Publix, Walmart, Florida Hospital Waterman, and Lake County government. Florida Hospital Waterman represents approximately 1,000 jobs, while Lake County government accounts for more than 1,470 jobs. The property is located in Eustis within the Orlando MSA submarket.
The restaurant fronts US-441, a commercial corridor with reported traffic exceeding 50,000 vehicles per day. Surrounding demand drivers include Publix, Walmart, Florida Hospital Waterman, and Lake County government. Florida Hospital Waterman represents approximately 1,000 jobs, while Lake County government accounts for more than 1,470 jobs. The property is located in Eustis within the Orlando MSA submarket.
Key Highlights
- 1.39‑acre single‑tenant Applebee’s Grill & Bar property
- New 10‑year corporate‑guaranteed lease with Dine Brands Global, Inc.
- Lease commencement scheduled for June 1, 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,610
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,792,200
$1.8M
Cap Rate 7%
$1,280,143
$1.3M
Cap Rate 9%
$995,667
$995.7K
Market Conditions
NOI Build-Up for 5,750 SF
Gross rent
$124.2K $21.60/SF
− Vacancy
−$4.7K −$0.82/SF
EGI
$119.5K $20.78/SF
− OpEx
−$29.9K −$5.19/SF
NOI
$89.6K $15.58/SF
Area
Lake County, FL
Vacancy
3.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,792,200
Cap Rate 7%
$1,280,143
Cap Rate 9%
$995,667
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,610 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,540 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
50,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
277k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Apparel 26%
Shops & Services 16%
Groceries 15%
Kohl's
Apparel
44,903 visits/mo
0.3 miles
Publix
Groceries
41,958 visits/mo
0.2 miles
SONIC Drive In
Dining
20,037 visits/mo
0.2 miles
7-Eleven
Shops & Services
17,478 visits/mo
0.2 miles
Sonny's BBQ
Dining
17,411 visits/mo
0.4 miles
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- New China Buffet — 304 W Ardice Ave, Eustis, FL 32726
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-tenant restaurant with a corporate-guaranteed lease and annual rent increases.
Where is this conventional restaurant located?
The property is located at 15351 US-441 Eustis, FL.
What is the asking price?
The asking price for this property is $2,635,000.
What are key features of this property?
This property features: 1.39‑acre single‑tenant Applebee’s Grill & Bar property; New 10‑year corporate‑guaranteed lease with Dine Brands Global, Inc.; Lease commencement scheduled for June 1, 2026
