Applebee's - Sarasota

Asset Type

Retail

Address
5550 Fruitville Rd Sarasota, FL United States 34232-6405
Asking Price

S$4,372,000

Sq Footage

5,152

Year Built

N/A

Cap Rate

8.00%

Additional Attributes
Escalations 1.5% annual increases
Lease Expiration 2027-07-31
Lease Type NNN
Other Guarantor Name Doherty Florida Fruitville, LLC

Property Description

JLL is pleased to offer for sale the fee-simple interest in an absolute NNN leased Applebees located in Sarasota, FL. The property is a freestanding retail building that is tenanted by Doherty Florida Fruitville, LLC (d/b/a Applebees) on an NNN lease with 8.9 years of contractual lease term remaining. The Property is strategically positioned along Fruitville Road (54,000 VPD) a main east/west thoroughfare that connects Sarasota with Interstate 75. The Asset is adjacent to Sarasota Commerce Center I & II which consists of 241,000 SF of office space, and also adjacent to 50 Paramount Drive which is a brand-new, multi-family development built in 2018 consisting of 284 Units/614 Beds. The Asset benefits from strong visibility/frontage along Fruitville Road, as well as being located in the #1 Best Place to Retire in the United States (U.S. News) Sarasota, Florida.

Investment Highlights

• Well-positioned with frontage and visibility to Fruitville Road which sees daily vehicle counts of over 54,000
• Adjacent to 241,000 square feet of office space as well as a brand-new multi-family development constructed in 2018
• The tenant has 8.9 years of lease term remaining
• The tenant is on a NNN lease with no landlord responsibilities
• The tenant is an operator with a portfolio of 150+ stores
• Sarasota, Florida ranked #1 Best Place to Retire in the United States by U.S. News
• No state income tax
Listing Contacts
Peter Furest
Peter Furest
SVP, Capital Markets
+65 3159 4021
NY - 10401232530
Carson Good
Managing Director, Captl Mkts
+65 3159 4021
Brian Shanfeld
Brian Shanfeld
Managing Director, Captl Mkts
+65 3159 4021
IL - 475158824
Eric Suffoletto
Eric Suffoletto
EVP, Capital Markets
+65 3159 4021
IL - 475.14702
Taylor Wolfes
SVP, Capital Markets
+65 3159 4021
Interested in this property?

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.