Popular Newburgh Applebee’s Building On The Market
The Applebee's location in Newburgh is a great option if you're looking for a nice meal whatever the situation may be. The restaurant itself at 1205 Route 300 remains open for business but the building is up for sale if you've got a couple of million bucks laying around.
Located right along the high traffic Route 300, the nearly 5,000 square foot facility is on the market for $2,369,270. Applebee's has a 22-year history at this location and isn't going anywhere anytime soon. Just three years ago a new 20-year lease was signed with incremental rent increases built-in. The agreement is what's called a NNN lease meaning the owner of the building isn't responsible for the management or maintenance of the facility and runs through the year 2037.
According to the listing, they launched new off-premise catering and have continued to have much success with their Carside-To-Go service. The dining room on-site was closed for a time due to the pandemic but reopened in June.
Applebee's was founded in 1980 by Bill and T.J. Palmer and has grown exponentially over the years. There are now more than 1,700 locations all across the globe and they reportedly employ more than 28,000 people.
It's always a good idea to do your due diligence before dropping throwing a few million bucks around. The Newburgh Applebee's property is listed through Marcus & Millichap, The Glass Group, and more information can be found HERE.