2432 Wabash St Frankfort, IN 46041-9429
Property profile & analytics
2432 Wabash St, Frankfort, IN 46041-9429
- Turn key restaurants
- 4,629 SF
- 1.06 lot acres
Property ID
US31-2366332
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Silvera Carpet / Carpet & Flooring Store / Hardware & Home Improvement
- Applebee's Grill + Bar / Restaurant
Property Details for 2432 Wabash St
- Year built
- 2002
- Construction
- WOOD
- Lot size
- 1.06 lot acres
- Property type
- Turn key restaurants
- APN
- 12-10-12-100-007.000-021
- APU
- 121012100007000021
Description
This exceptional investment opportunity presents a 4,738 square foot Applebee's restaurant located at 2432 E Wabash St, Frankfort, IN 46041. The property sits on a 1.03-acre lot and boasts a strong 6.40% cap rate, generating a NOI of $115,000. The current lease, an absolute net lease (NNN), features a remaining term of 9 years with a new 10-year extension commencing December 2023, including an 8% rent increase in year 6. Two five-year option periods are included, each with a 10% rental increase. The tenant, a franchisee of Apple American Group (a large franchisee with over 460 locations), recently completed parking lot and landscaping improvements. The property benefits from its outparcel location to a Walmart Supercenter and proximity to other national retailers including Lowe's, Rural King, McDonald's, Taco Bell, and Anytime Fitness. The asking price is $1,797,000, translating to a price per square foot of $379.27. Built in 2002, the property enjoys 100% occupancy and benefits from a strong sales history, with 2023 sales reaching $1,869,000, resulting in a 6.1% rent-to-sales ratio. This is a low-management, high-return investment with a long-term, stable tenant. The lease commenced November 1, 2003, and expires November 30, 2033.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Frankfort
- County
- Clinton
- State
- Indiana
- Longitude
- -86.4794
- Latitude
- 40.2793
- CBSA code
- 23140
- CBSA name
- FRANKFORT, IN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,340
$158,900
$368,900
$527,800
-
$158,900
$368,900
$527,800
