139 Lee Jackson Hwy Staunton, VA 24401-5503

Property Details for 139 Lee Jackson Hwy

Year built

1995

Lot size

1.03 lot acres

Property size

5,009 SF

Zone code

GENERAL BUSINESS

Property type

Turn key restaurants

APN

055B 1 9

APU

055B19

Description

This exceptional investment opportunity presents a 5,009 square foot Applebee's restaurant located on a 1.03-acre lot at 139 Lee Jackson Hwy, Staunton, VA 24401. The property boasts a strong 8.50% cap rate and a substantial net operating income (NOI) of $258,019. The current lease, a triple-net (NNN) ground lease with an experienced franchisee (Potomac Family Dining Group Operating Company LLC, operating 49 locations), has a remaining term of approximately 3.6 years, expiring June 12, 2028, with four, five-year lease options including a 10% rent increase every five years. This Applebee's location enjoys a highly visible position on Staunton's main retail corridor, benefiting from its proximity to major roadways like US-11 Lee Jackson Highway, Interstate 81, and State Route 262 (with a combined 78,065 vehicles per day). The property's strategic location near other established businesses, including Exxon, a Hampton Inn, Red Lobster, McDonald's, and Starbucks, ensures consistent traffic and visibility. This Applebee's consistently performs well, ranking in the 77th percentile statewide, attracting 164,000 annual customer visits. The property is situated in a growing submarket within the Shenandoah Valley, with a population of 57,122 residents within a 15-minute drive. Financial reporting and store sales data are available upon request. This is a rare opportunity to acquire a well-established, high-performing restaurant investment in a prime location.

Location Insight

City

Staunton

County

Augusta

State

Virginia

Longitude

-79.0664

Latitude

38.1229

CBSA code

44420

CBSA name

STAUNTON-WAYNESBORO, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments