SURPRISE, Ariz., (Sept. 1, 2026) — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 5,103-square-foot Applebee's property in Surprise, Arizona for $3.54 million ($694 PSF).
“The casual dining sector has faced challenges over the past several years, but the underlying real estate fundamentals of this property were exceptionally strong,” said Chris Lind, senior managing director investments. “Its location at one of the busiest intersections in the Phoenix metropolitan area generated a competitive bidding process and ultimately delivered a result the seller was very pleased with.”
Lind, Mark Ruble and Zack House, investment specialists in Marcus & Millichap's Phoenix office, represented the seller, a Delaware limited liability company, and procured the buyer, a California limited liability company, in the all-cash transaction.
The property is located at 13756 W. Bell Rd. Built in 2001, the restaurant sits on 0.79 acres and is occupied by Applebee's, one of the world's largest casual dining brands. The buyer plans to hold the property as a long-term investment.