Property Description
HMX Realty Advisors is pleased to exclusively offer for sale the fee-simple interest in a 6,198-square-foot Applebee’s Grill + Bar situated on approximately 1.94 acres in Melbourne, Florida. Strategically positioned at the signalized hard corner of W. Eau Gallie Boulevard (SR-518) and N. Wickham Road, the property benefits from exceptional visibility and exposure at one of the area’s prominent commercial intersections.
The restaurant is operated by Applebee’s Restaurants Mid-Atlantic, LLC, a subsidiary of Dine Brands Global, Inc. (NYSE: DIN), and is subject to an absolute triple-net (NNN) lease, providing an attractive passive investment structure with no landlord responsibilities. The current lease term extends through May 2032 and features 1% annual rental increases, providing consistent contractual income growth throughout the remaining primary term. The lease also includes six (6) five-year renewal options, offering the potential for significant long-term occupancy.
The property occupies a highly visible outparcel position within Melbourne Village Plaza along the established Wickham Road retail corridor. The surrounding trade area features a strong concentration of national retailers and daily-needs destinations, including Walmart, ALDI, Walgreens, Dollar Tree and Staples, creating consistent consumer traffic and reinforcing the property’s strategic retail location.
The site benefits from approximately 59,500 combined vehicles per day, with N. Wickham Road carrying approximately 34,000 vehicles per day and W. Eau Gallie Boulevard carrying approximately 25,500 vehicles per day. Its signalized hard-corner positioning provides excellent visibility and convenient access from both major thoroughfares.
Regional connectivity further enhances the location, with the property situated approximately 2 miles from Interstate 95 and approximately 2.5 miles from Melbourne Orlando International Airport. The surrounding market is supported by a substantial residential base of more than 108,000 residents within a five-mile radius, providing Applebee’s with access to a deep and established customer base.
The offering presents investors with the opportunity to acquire a nationally recognized restaurant concept in a high-visibility Florida location featuring an absolute NNN lease structure, annual contractual rent growth, long-term renewal options, strong traffic counts, dense surrounding retail and proximity to major transportation infrastructure.
