Marcus & Millichap Real Estate Investment Services has brokered the sale of an existing 5,072 s/f Applebee's. The sale price of $1.857 million represents $366 per s/f and a CAP rate of 9.34%. The Applebee's has 18+ years remaining on the base term with four 5-year options. The property is located at 14 Manchester Rd.
Robert Horvath, Todd Tremblay and Ethan Cole, of the firm's Boston office, procured the buyer M Cohen Enterprises LLC. The property was sold by DBAPPLEF LLC located out of New York, N.Y.