IHOP 2529 S Canal St

Investment Highlights

?4,993 SF building on ?39,000 SF of fee simple land Located within two (2) miles over 15 hotels, motels, and inns including a Fairfield Inn, Best Western, La Quinta Inn, Residence Inn Hotel & Hampton In Operated as an IHOP by a multi-unit franchisee Excellent location surrounded by synergistic national retailers such as: Walmart, Verizon, Subway, and Sally?s Beauty

Executive Summary

Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 2529 South Canal Street in Carlsbad, New Mexico. The subject property is located near the intersection of Highway 285 and Highway 62, in an area with a high density of hotels and inns. IHOP currently has 14 years remaining on the lease with two, five-year options to exercise. This is an excellent opportunity to acquire a stable investment operated by a multi-unit franchisee.This location is currently part of a five-property portfolio. All five IHOP locations are for sale and can be purchased as a portfolio if desired. Contact brokers for more information.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    4,993
• Building Class    B
• Year Built    2011
• Price    2,590,000
• Price Per SF    519
• Cap Rate    9
• NOI    233,200
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.12
• Land Acres    0.94 AC