Popular Hudson Valley Applebee’s For Sale
You could own the building that is home to a very popular Applebee's in the Hudson Valley.
Marcus & Millichap is selling the Applebee's on Route 300 in Newburgh for $2,369,270. The building is still in a 20-year lease with annual rent increases built in, officials say.
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"The subject property operates under a 20-year Absolute NNN Lease, with approximately 17-years remaining," Marcus & Millichap states in the listing. "The lease offers 1.5% annual rent increases during the primary term and the 4, 5-year option periods. There are no landlord management or maintenance responsibilities whatsoever."
Popular Hudson Valley Applebee's For Sale
The Applebee’s Neighborhood Grill & Bar has been successful in Newburgh for over 22 years, Marcus & Millichap adds.
"The subject property is located in a dense retail corridor of Newburgh with average household incomes of $92,842 within a 5-mile radius. The property is situated immediately off of NY Route 300 (32,505 ADT) with excellent visibility and direct street frontage," Marcus & Millichap writes in the listing.
The Applebee's is located about one mile from New York Stewart International Airport. Nationally recognized retailers in the immediate area include Home Depot, Walmart Supercenter, PetSmart, Sonic Drive-In, McDonald’s, Lowe’s, a Tesla Supercharger station, Dunkin’ Donuts, TGI Friday’s, IHOP, Chase Bank, Burger King, Market Fresh Supermarket, Crystal Run Healthcare Newburgh, Dollar General and Panera Bread,