Description
This former Applebee's restaurant in Lebanon, VA is now available for sale as a commercial investment. Triple net lease is in place with AIG Virginia, LLC through June 12, 2028 The 3,750 SF free-standing masonry building was constructed in 2006 and sits on a 1.413 AC lot with 80 parking spaces- a pad to Walmart Supercenter. Previous Applebee's restaurant closed in July 2019, and all restaurant equipment and furnishings remain. Property is located near the exit to US Highway 19 in an economic development area with retail anchors including Walmart, Dollar Tree, Advance Auto Parts, Rent-A-Center, Russell Cellular Verizon retailer, and CATO Fashions. Average daily traffic count of US HWY 19 is 13,000 as per VDOT. Rent: September 1, 2019 TO March 1, 2022- $7,786.57/month. Rent April 1, 2022 TO March 1, 2027- $9,036.57/month. Rent April 1, 2027 TO June 1, 2028- $9,453.24/month.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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3,750SQFT
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$332$/SQFT
School Ratings & Info
Description
This former Applebee's restaurant in Lebanon, VA is now available for sale as a commercial investment. Triple net lease is in place with AIG Virginia, LLC through June 12, 2028 The 3,750 SF free-standing masonry building was constructed in 2006 and sits on a 1.413 AC lot with 80 parking spaces- a pad to Walmart Supercenter. Previous Applebee's restaurant closed in July 2019, and all restaurant equipment and furnishings remain. Property is located near the exit to US Highway 19 in an economic development area with retail anchors including Walmart, Dollar Tree, Advance Auto Parts, Rent-A-Center, Russell Cellular Verizon retailer, and CATO Fashions. Average daily traffic count of US HWY 19 is 13,000 as per VDOT. Rent: September 1, 2019 TO March 1, 2022- $7,786.57/month. Rent April 1, 2022 TO March 1, 2027- $9,036.57/month. Rent April 1, 2027 TO June 1, 2028- $9,453.24/month.
© 2021 Southwest Virginia Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Highlands Realty, Inc.. Data last updated: 2021-01-19T00:10:44.59.