IHOP | Corp Abs NNN | LongTerm Occupancy 8685 Memorial Blvd

Investment Highlights

Corporate Guaranty (NYSE: DIN) | Brand New 5-Year Lease Extension | Options to Extend | Long Term Occupancy (25+ Years) Outparcel to Park Central Crossings (5.5M+ Visitors) | Located in a Dense Retail Corridor Strong Demographics In 5-Mile Trade Area Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities Located along E Farm to Market Rd 365 (29,400 VPD) | Direct On/Off Ramp Access to Hwy 287 (58,500 VPD) | Excellent Visibility & Access

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed (NYSE: DIN), freestanding, IHOP investment property located in Port Arthur, Texas (Beaumont MSA). The tenant, IHOP Properties, Inc., has occupied the building since 1998 and recently signed a brand new 5-year lease extension, demonstrating their long-term commitment to the site. The lease features 1 (5-year) option to extend with a 10% rental increase at the beginning of the option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    4,995
• Building Class    C
• Year Built    1997
• Price    2,545,000
• Price Per SF    510
• Cap Rate    7.25
• NOI    184,538
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.11
• Land Acres    1.05 AC

• Freeway Visibility
• Pylon Sign
• Restaurant
• Signage