February 14, 2023 – Jack Laurendeau, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a Applebee’s in Columbus, Ohio. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,747,000.
Applebee’s is located at 1590 Georgesville Square Drive in Columbus, Ohio. The stand-alone single tenant building consists of 5,021 square feet and sits on a 1.289-acre parcel. Applebee’s has 10+ years remaining on their Absolute NNN Lease with four (4), 5-year renewal options. The lease includes an attractive 10% rent increase every five years throughout the primary term and at the start of each renewal option period. The Property enjoys an outstanding location as an outparcel to Georgesville Square, a major shopping center anchored by Lowe’s, Kroger, AutoBoutique. The Property benefits from outstanding frontage and visibility along Georgesville Road, the primary commercial corridor serving the destination retail hub. The Property is seconds from Interstate 270, and is surrounded by national retailers that drive traffic to the area as well as countless industrial, warehouse, and manufacturing companies that provide a built-in customer base.
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.