Applebee's Corporate Guaranteed
202 S Broadview St Cape Girardeau, MO 63703
202 S Broadview St, Cape Girardeau, MO, 63703
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For Sale
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Freestanding Applebee's on 1.41 acres with corporate guarantee.
Property Size5,396 SF
Lot Size1.41 Acres
Price / SF$361.38
Days on Market118
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
- Year Built
- 1991
Listing Agency
Current Real Estate Advisors
(305) 783-8890
Listed by
Alejandro Snyder · License #FL BK3386095
Source
Crexi
Added: Mar 26 Updated: Jul 6 at 8:03 am Checked: Jul 20 at 4:27 am
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 building of approximately 5,396 square feet, situated on a 1.41-acre parcel. The building is currently occupied by Applebee's in Cape Girardeau, MO. Applebee's Corporate assumed operations in November 2024 and executed a new 10-year Absolute NNN lease. The lease is secured by a corporate guaranty from Applebee's International, Inc., and includes two 5-year renewal options with 10% rent escalations at each renewal. The lease also features a Percentage Rent provision beginning in Year 3. The property is suitable for investors seeking stable cash flow from a publicly traded tenant.
Key Highlights
- Absolute NNN 10‑year lease with zero landlord responsibilities, secured by Applebee's International, Inc. corporate guaranty.
- New lease executed in November 2024 by Applebee's Corporate, demonstrating confidence in the location.
- Potential for substantially enhanced returns through Percentage Rent provision beginning in Year 3.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.8k | $14.04 |
| − Vacancy | −$3.0k | −$0.56 |
| EGI | $72.7k | $13.48 |
| − OpEx | −$18.2k | −$3.37 |
| NOI | $54.5k | $10.11 |
5,396 SF · lease $14.04/SF/yr · vacancy 4.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Applebee's Grill + Bar
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Freestanding Applebee's on 1.41 acres with corporate guarantee.
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: Absolute NNN 10‑year lease with zero landlord responsibilities, secured by Applebee's International, Inc. corporate guaranty.; New lease executed in November 2024 by Applebee's Corporate, demonstrating confidence in the location.; Potential for substantially enhanced returns through Percentage Rent provision beginning in Year 3.
