OFFERING PRICE:
$1,819,000

TOTAL BUILDING AREA:
±5,200 SF

TOTAL LAND AREA:
±43,560 SF
(±1.00 Acre)
FEATURED LISTING:
APPLEBEE'S
at Merced Marketplace
1734 W. Olive Avenue, Merced, CA
INVESTMENT HIGHLIGHTS
 
▪ Established Applebee’s Location – The property has operated as an Applebee’s since 2004 with strong sales and a low rent-to-sales ratio, proving the viability of this location
 
▪ Low Rent Ground Lease Fundamentals – Applebee’s is only paying $99,348 annually in ground rent ($1.59 PSF/MO based on the 5,200 SF building) – increasing the probability of long term occupancy and also providing strong intrinsic real estate fundamentals and an upside opportunity in the future at lease expiration
 
▪ Stable High Performing Investment with Income Growth – The combination of strong sales, below market rent, long-term historical occupancy, and coveted street-frontage pad placement, increases the probability of Applebee’s continued occupancy beyond the January 2024 expiration – four, 5-year options remain with 12% rent increases at each option
 
▪ Best of Class Asset – Merced Marketplace is arguably the highest quality retail center in the Merced trade area given its architecture, well-maintained condition with limited deferred maintenance, and national and regional brand tenancy
 
▪ Convenient Location with Tremendous Access – Strategically located along Olive Ave (37,794 cars per day), the major east/west thoroughfare in the trade area
 
▪ Pride of Ownership Property – High-quality asset with national brand tenancy and low ground rent fundamentals, all at a very attractive price point of only $1,819,000

 

 
FOR MORE
INFORMATION
PLEASE CONTACT:
 
NRP-WEST
JOHN READ
+1 949 725 8606
Lic. 01359444
[email protected]		 JAMES TYRRELL
+1 949 725 8473
Lic. 02012964
[email protected] 		 TRENT STEEVES
+1 949 725 8563
Lic. 01950466 [email protected]

 



THIS IS A MARKETING COMMUNICATION

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