IHOP NNN – Jacksonville, FL

 

  • Price: US $3,700,000
  • Type: Free Standing
  • Occupancy: 100%
  • CAP Rate: 0%
  • Rentable Square Feet: 4,462 SF = 414 m2
  • Land: 51 AC = 4,462 m2
  • NOI: US $221,922/ year
  • Annual Expenses: 0 (Zero) NNN – Tenant responsible for all expenses including property taxes
  • Lease Term: 20 years (Expiring January 2029) – 10.4 Years Remaining
  • Rent Increase: 25% Annually
  • Extension: 6 – 5 Year Options
  • Built: 1987 and fully remodeled in 2007.
  • Guarantor: Sunshine Restaurant Partners (SRP) – more than 150 store (US$225 Million in annual sales)
  • Extra: More than 35 years at the same location, IHOP – 1,556+ Restaurants in all 50 states. Daily Traffic counts exceed 50,000 vehicles per day.  
  • Location: The property is ideally located in the heart of Jacksonville, Florida in a dense retail corridor.