NNN IHOP Jacksonville FL
- Price: US $ 3,362,500
- Property Type: Free standing
- Occupancy: 100%
- CAP: 6.60%
- Building Area: approx. 4,386 SF =407 m²
- Lot: approx. 1.5 Acres = 6070 m²
- NOI: US $221,992
- Annual Expenses: 0 (Zero) NNN- Tenant responsible for all expenses; property tax, insurance and maintenance.
- Contract Terms: 10.3 years remaining (January 2029)
- Increases: 1.25% annually
- Extensions: 6- 5 years’ options
- Guarantor: Sunshine Restaurant Merger Sub, LLC This IHOP is operated and guaranteed by the IHOP’s largest franchisee/licensee in the United States with over 150 IHOP Locations. The tenant has substantial experience in restaurant operations with over 925 total restaurant locations: IHOP (250+), Applebee’s (115+), Krystal Burger (350+), On the Border (150+), and Stevi B’s Pizza (40+).
- Location: in the heart of Jacksonville, Florida on a major 4-lane east-west arterial.
- Extra: The tenant has operated successfully on this site since 1987. As a testament to the tenant’s dedication to this property, they signed a brand new 20-year lease in 2008.