Applebee's - Hastings

2000 Vermillion Street, Hastings, MN, 55033, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Applebee's located at 2000 Vermillion St in Hastings, MN. This property features a NNN lease with Applebee's, delivering stable cash flow from an established national restaurant chain while providing a completely hands-free investment with zero landlord obligations.

Applebee's is operated by Apple American Group (AAG), the largest Applebee's franchisee. AAG is a subsidiary of Flynn Restaurant Group, which is the world's largest restaurant franchise operator, providing exceptional credit strength to the investment. The 5,471 SF building sits on 1.30 acres with prominent frontage along Vermillion Street (Highway 61), which is Hastings' primary north-south corridor carrying 29,000 vehicles per day. The riverfront location creates an attractive, high-visibility setting that benefits from large pylon signage visible to motorists in both directions, while offering multiple access points for seamless customer circulation. With approximately 94 parking stalls, the outstanding ratio of more than 15 spaces per 1,000 SF makes it an ideal location for restaurant operations.

The property is positioned within the established Hastings market, which serves as the Dakota county seat and benefits from a stable consumer base featuring average household incomes of nearly $120,000 within five miles, aligning with national averages. This strategic location combines solid demographics with proximity to consistent traffic drivers including the Hastings Civic Arena and the newly-developed Current 33 Apartment complex with 200+ units, while being surrounded by daily-needs retailers like Kwik Trip, CVS, Dollar Tree, and various dining options that create a strong retail ecosystem in the immediate trade area.

Please refer to the OM for more information on this investment opportunity.

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Attributes

Asking price

₱117,018,000

Cap rate

8.5%

Building area net

508 sm

Occupancy

100%

Year built

1996

Land area net

0.53 ha

Media

Investment highlights

SINGLE TENANT ABSOLUTE NNN LEASE

The property is occupied by a single tenant on an absolute NNN lease with zero landlord obligations
Applebee's has successfully operated at this location since 1996, demonstrating long-term tenant performance and commitment
The lease features four consecutive 5-year renewal options beginning in 2028

NATIONAL BRAND WITH STRONG CREDIT BACKING

Applebee's is operated by Apple American Group (AAG), the largest Applebee's franchisee in the system
AAG operates as a subsidiary of Flynn Restaurant Group, the world's largest restaurant franchise operator
As a nationally recognized restaurant brand, Applebee's maintains a global footprint of more than 1,700 locations across 11 countries, functioning as one of the largest casual dining brands in the United States

PREMIER LOT WITH EXCEPTIONAL PARKING CAPACITY

The property is situated on a 1.30-acre lot with prominent frontage along Vermillion St (Hwy 61), Hastings' primary north-south corridor carrying 29,000 vehicles per day
The riverfront location creates an attractive, high-visibility setting ideal for restaurant use
With approximately 94 parking stalls, the site provides an outstanding ratio of more than 15 spaces per 1,000 SF

ESTABLISHED RETAIL CORRIDOR

Surrounded by daily-needs and high-frequency traffic drivers including Kwik Trip, Domino's, CVS, and Dollar Tree
Located just a quarter-mile from the Hastings Civic Arena, as well as the newly-developed Current 33 Apartment with 200+ units down the road
Hastings serves as the Dakota County seat, which guarantees a consistent flow of government-related activity, jobs, and infrastructure investment, supporting its lasting presence in the Twin Cities Metro area