202 Broadview St Cape Girardeau, MO 63703
- Commercial land
- 1.41 lot acres
Current Use by Public Records
- Applebee's Grill + Bar / Diner / Family Restaurant
Property Details for 202 Broadview St
- Lot size
- 1.41 lot acres
- Property type
- Commercial land
- APN
- 203070014001000000
- APU
- 203070014001000000
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Applebee's restaurant in Cape Girardeau, Missouri. The 5,396 square foot building sits on a 1.41-acre lot at 202 S Broadview St, 63703, boasting a prime location. Currently operating at 100% occupancy, the property features a new absolute NNN lease with zero landlord responsibilities, providing a secure and passive income stream. The lease, commencing at closing, has a remaining term of 7.1 years and includes attractive rent bumps: 10% after 2.5 years and another 10% every 5 years thereafter. Further enhancing the investment's appeal are four and five-year lease options, demonstrating the tenant's long-term commitment. Built in 1991 and renovated in 2017, this one-story building offers a strong NOI of $150,000, resulting in an 8.00% cap rate and a price per square foot of $347.48. The asking price is $1,875,000. The property's strategic location near Interstate 55 and West Park Mall ensures high visibility and strong foot traffic. This sale-leaseback transaction provides a compelling opportunity for investors seeking a stable, high-yielding asset with significant upside potential. The property's strong operating history and location within a thriving retail corridor contribute to its long-term value and attractiveness. The property's APN is 20-307-00-14-001.00-0000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cape Girardeau
- County
- Cape Girardeau
- State
- Missouri
- Longitude
- -89.5564
- Latitude
- 37.3029
- CBSA code
- 16020
- CBSA name
- CAPE GIRARDEAU-JACKSON, MO-IL MICROPOLITAN STATISTICAL AREA
