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.