Multi-Tenant Retail
Applebee’s Sale-Leaseback Portfolio | High-Performing Locations w/ Low Rent-to-Sales | Remodel Planned for 2026
1396 South Main St, Adrian, MI & 5330 West Main Street, Kalamazoo, MI , Adrian, MI & Kalamazoo, MI
Listing Price:
Click To Access Offering Memorandum- Cap Rate6.50%
- Building SF11,754 SF
- Year Built / Renovated1995
Investment Highlights
Key Property Highlights
• High performing locations statewide and nationwide per Placer.ai data
• Low rent to sales ratios with 4.80 percent in Adrian and 5.89 percent in Kalamazoo supporting long term store performance
• Absolute net leases featuring a 10 year sale leaseback structure with 10 percent rent increases every five years and in option periods
• Tenant TSFR Apple Venture owned by Team Schostak Family Restaurants, an award winning operator recognized as a USA Today Top Workplace
• Long term operating history with both locations open since 2012
• Planned 2026 Applebee’s Greenhouse remodel
Michigan Broker of Record | Paul Kerber | Two Towne Square, Ste 450 Southfield, MI 48076 | (248) 415-2600 | Lic #: 6502433613