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For sale
Conventional restaurants
FL
Tallahassee
32317
4040 LAGNIAPPE WAY

Absolute NNN Applebee’s Neighborhood Grill+Bar

4040 LAGNIAPPE WAY, Tallahassee, FL 32317

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Absolute triple-net Applebee’s with long-term corporate-guaranteed lease and strong visibility on a high-traffic retail corridor.

Type:Retail

Property size:

5,540 SF

Lot size:

1.36 Acres

Price / SF:

$440/SF

HighLights

Net leased Applebee’s Neighborhood Grill + Bar built in 2016 with a newly executed, corporate‑guaranteed absolute triple net (NNN) lease.
Lease features 15+ years remaining plus (4) 5‑year renewal options and 1.5% annual rent escalations.
5,540 SF building on a 1.36‑acre parcel (59,242 SF) at Lagniappe Way in Tallahassee, FL.
Strong traffic and visibility along Lagniappe Way with 8,000+ VPD, plus proximity to Mahan Dr (32,000+ VPD) and Buck Lake Rd (10,000+ VPD).
Ample parking and high‑visibility signage to support the casual dining format.
Located in Fallschase Village Center, an open‑air retail destination anchored by Costco, Walmart Supercenter, Bass Pro Shops, CMX Cinemas, and Boot Barn.

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Scott Sandelin

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For Sale

Contact for pricing

Absolute triple-net Applebee’s with long-term corporate-guaranteed lease and strong visibility on a high-traffic retail corridor.

Type:Retail

Property size:

5,540 SF

Lot size:

1.36 Acres

Price / SF:

$440/SF

Added:: Jun 22, 2026
Days on Market:: 6
Last Refresh:: Jun 26 at 1:49 am

Property Features for 4040 LAGNIAPPE WAY

General Information

Standard status: Active
Size: 5,540 SF
Lot size: 1.36 Acres
Property subtype: Retail

Building Details

Year Built: 2016

We can help!

Contact an agent

Scott Sandelin

Listing office Marcus & Millichap

Listing date Jun 22, 2026

Source Crexi

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 Marcus & Millichap

HighLights

Net leased Applebee’s Neighborhood Grill + Bar built in 2016 with a newly executed, corporate‑guaranteed absolute triple net (NNN) lease.
Lease features 15+ years remaining plus (4) 5‑year renewal options and 1.5% annual rent escalations.
5,540 SF building on a 1.36‑acre parcel (59,242 SF) at Lagniappe Way in Tallahassee, FL.
Strong traffic and visibility along Lagniappe Way with 8,000+ VPD, plus proximity to Mahan Dr (32,000+ VPD) and Buck Lake Rd (10,000+ VPD).
Ample parking and high‑visibility signage to support the casual dining format.
Located in Fallschase Village Center, an open‑air retail destination anchored by Costco, Walmart Supercenter, Bass Pro Shops, CMX Cinemas, and Boot Barn.

Overview

This offering is an Applebee’s Neighborhood Grill + Bar net leased investment, structured as an absolute triple net (NNN) lease. The restaurant is housed in a 5,540 SF building on an oversized 1.36-acre parcel, with site features including ample parking and high-visibility signage to support a casual dining use. The property has operated at this location since 2016.

The restaurant is located on Lagniappe Way on a high-traffic retail corridor in Tallahassee, Florida, with 8,000+ VPD along Lagniappe Way and proximity to Mahan Dr (32,000+ VPD) and Buck Lake Rd (10,000+ VPD). The site is positioned within Fallschase Village Center, an open-air retail destination anchored by major national retailers including Costco, Walmart Supercenter, Bass Pro Shops, CMX Cinemas, and Boot Barn. Behind the center, Fallschase residential development is underway, including new single-family homes and townhomes, along with a 288-unit multifamily community (Fallschase Apartments) adjacent to Costco.

The newly executed lease is corporate-guaranteed and absolute, with 15+ years remaining in the current term and four 5-year renewal options. The lease includes 1.5% annual rent escalations, and the structure is designed to provide long-term stability for investors seeking a stabilized, single-tenant NNN restaurant asset on a prominent retail corridor.

Location Intelligence

Current Use by Public Records

Applebee's Grill + Bar Restaurant

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Location Insight

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Local Demand

City: Tallahassee
County: Leon
State: Florida
Longitude: -84.215862
Latitude: 30.4640516

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For sale
Conventional restaurants
FL
Tallahassee
32317
4040 LAGNIAPPE WAY

What type of property is this?

Conventional restaurant - Absolute triple-net Applebee’s with long-term corporate-guaranteed lease and strong visibility on a high-traffic retail corridor.

Where is this conventional restaurant located?

The property is located at 4040 LAGNIAPPE WAY Tallahassee, FL.

What is the asking price?

The asking price for this property is $2,439,000.

What are key features of this property?

This property features: Net leased Applebee’s Neighborhood Grill + Bar built in 2016 with a newly executed, corporate‑guaranteed absolute triple net (NNN) lease.; Lease features 15+ years remaining plus (4) 5‑year renewal options and 1.5% annual rent escalations.; 5,540 SF building on a 1.36‑acre parcel (59,242 SF) at Lagniappe Way in Tallahassee, FL.