About the Investment

• Long-Term Double Net (NN) Lease | This lease will commence on 3/27/2025, with a new 20- year term. It will be a Double Net (NN) lease, placing minimal responsibilities on the landlord, limited to the roof and structure, thus providing a passive investment opportunity for the landlord. Additionally, there is a 1,510 SF portion of the building that is not currently occupied. The seller is providing an 18 month rent credit from the time of sale to a new owner. This rent per foot is the same as the recently signed IHOP rent, despite being a much smaller SF that would typically command a higher rent per foot.
• Global Tenant Founded in 1958 | IHOP has over 1,790 locations around the world and features restaraunts in all 50 states. The operator of this IHOP location has 8 other locations in the area with an extensive history in the IHOP system. This multi-unit operator is personally guaranteeing the lease as well.
• A+ Retail Location in Middle of Busy Retail Corridor | This IHOP property is located in the middle of a massive retail corridor anchored by tenants like The Home Depot, Walmart, Target, TJMaxx, Home Goods, Ross, Aldi, Kohl’s, Jewel Osco and multiple car dealerships.