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Virtual Drive-By

Applebee's NNN

704 West Wade Hampton Boulevard · Greer, SC 29651 · QSR / Restaurant

Asking price
$2,622,857
Cap rate
7.00%
NOI
$183,600

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeNNN
Term remaining7.9 yrs
Expiration06/2034
Rent bumpsYes
OptionsFour 5-Year
Ground leaseNo
Credit profileFranchisee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF3,960
Price / SF$662
Year built1999
Lot size1.06 ac
TypeRestaurant
Days on market54

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

Strong Tenant with Long-Term NNN Lease -

Absolute NNN lease with approximately 8 years of term remaining and rent increases. This location ranks in the 73rd percentile in South Carolina according to Placer.ai.

Experienced Multi-Unit Franchisee -

Operated by Legacy Apple, the Applebee's operating subsidiary of Thrive Restaurant Group, an experienced multi-brand restaurant operator with a large multi-state portfolio and decades of expertise operating and expanding Applebee's restaurants throughout the Midwest and Southeast.

Rapidly Growing Market -

Located within the rapidly expanding Greenville-Spartanburg MSA, one of the Southeast’s strongest economic and population growth corridors, with Greer ranking among the fastest-growing cities in the United States.

Excellent Visibility & Accessibility -

Prominent frontage and convenient access along Wade Hampton Boulevard, a major connector between Greer and Greenville.

High-Traffic Retail Corridor -

Strategically positioned along Wade Hampton Boulevard, a dominant retail corridor with traffic counts exceeding 33,000 vehicles per day.

Strong Surrounding Demographics -

A dense surrounding population of more than 100,000 residents within a 5-mile radius is supported by average household incomes exceeding $105,000.

Low Vacancy Submarket -

The submarket maintains a low retail vacancy rate of 1.3% with no new construction currently underway, according to CoStar.

Tenant Report Sales -

Sales available upon request.

Take the next step on this property

We represent buyers on a cooperating commission basis. On the majority of transactions there is no separate fee to you.

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Property details and lease terms are open. Photography, the offering memorandum, lease abstract and due diligence materials are shared with registered buyers.

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.