According to ERG Property Advisors, it has completed the sale of Applebee's, located at 21753 South Diamond Lake Rd. The tenant has an absolute triple net lease for a 5,149 s/f building located on an 80,468 s/f lot.
The property sold for $1.2 million which represents a cap rate of 9.10%.
Andrew Greenberg, director of investment sales for ERG Property Advisors represented the buyer and Lisa Sickinger of Marcus & Millichap represented the seller.
ERG Property Advisors is a full-service commercial brokerage company. The core activities are investment sales, retail leasing and strategic consulting. While doing business in one of the best markets in the world, ERG Property Advisors
brings passion, experience and energy into all its activities.
Focusing on the broader New York City area as a company, ERG Property Advisors also narrows its focus to the
Submarket level to offer specific knowledge to clients. In addition to core New York properties, ERG has access to a vast
network of NNN properties through the United States.
Beyond property owners and those looking to acquire property, ERG Property Advisors current clients include banks,
appraisers, attorneys, accountants, and a wide range of professionals in giving them the information and skill sets they
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