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.