Applebee's — Sale in Portland, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Portland, TX 78374

Photos

Applebee's — Sale in Portland, TX, photo 1 of 4
Applebee's — Sale in Portland, TX, photo 2 of 4
Applebee's — Sale in Portland, TX, photo 3 of 4
Applebee's — Sale in Portland, TX, photo 4 of 4

Investment Figures

Cap rate
6.01%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present an Applebee's in Portland, Texas, 10 miles east of Corpus Christi. This 5,400 square foot property was built in 2014 and sits on 1.136 acres. There are 9+ years remaining on an absolute NNN lease with attractive 1.50% annual rent increases and four , 5-year renewal options. Applebee's is strategically located along US Highway 181, the main arterial that runs through Portland with 38,000+ cars per day. The subject property is an outparcel to a 24-hour Walmart Supercenter & Academy Sports. In April of 2026 Walmart announced plans for a $5.24 Million renovation and expansion of their 160,000 square foot facility. The property is located across the street from 5 Hotels, Hampton Inn, Staybridge Suites, Best Western, Comfort Inn, and Days Inn. The trade area is supported by a population of 24,000 with an average household income of $120,000. Portland 's market is part of the Corpus Christi trade area, which is the economic hub of the Texas Coastal Bend. This trade area serves approximately 600,000 people and functions as the commercial and industrial center for South Texas. Energy & Petrochemicals are the largest economic driver in the region as major re?ners & exporters like ExxonMobil, Valero, and the Koch Companies have invested Billions into re?nery & export capacity. These produce high-paying jobs which provide a strong customer bases for local retailers. The Port of Corpus Christi is the largest crude oil export gateway in the United States. Portland continues to be the preferred residential and commercial community for workers employed in the Port of Corpus Christi and surrounding petrochemical complexes. Investment Highlights: • 9+ Years Remaining on an Absolute NNN Lease - No Landlord Responsibilities • Attractive 1.50% Annual Rent Increases • Second Largest Applebee's Franchisee with 129 Locations across 14 States • Outparcel to a 24-hour Walmart Supercenter and Academy Sports Anchored Regional Power Cente

Market Context

This food service in Portland, TX is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Portland, TX — view the full market.

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