November 23, 2022 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of a Applebee’s in Topeka, Kansas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,640,000.
Applebee’s is located at 5928 SW 17th Street in Topeka, Kansas. The stand-alone single tenant building consists of 5,056 square feet and sits on a 1.16-acre parcel. Applebee’s has been at this location since 2018 and has 10 years remaining on their Absolute NNN Lease with four (4), 5-year renewal options. The lease includes attractive 1.5% annual rent increases throughout the base term and each renewal option period. The Property enjoys an outstanding location along SW 17th Street and is situated 500 feet from the signalized intersection of SW Wanamaker Road and SW 17th Street, the area’s two primary commercial corridors. The Property is seconds from Interstate 470, adjacent to the West Ridge Mall, and across the street from the Wanamaker Square shopping center. The area is home to countless national retailers and restaurants including Walmart Supercenter, Sam’s Club, Menard’s, Lowe’s, Home Depot, Target and Aldi. The Property is also within 2-miles of Washburn University with an enrollment in excess of 10,000 students and Topeka West High School, which has a faculty and staff of more than 1,500, and is 3-miles west of Topeka’s Central Business District.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.