ihop Tyler Texas
Property Type: NNN Leased Investment
Year Built: 2013
Property Size: ~4,464 rentable square feet
Built in 2013, the IHOP Tyler building is approximately 4,464 square feet and is occupied by, and operating as, an IHOP with approximately 15 years remaining on a 20-year lease. The lease allows for annual rent increases of 1% and is an absolute NNN lease. There are six renewal options of 5 years each with the same increases as on the primary term. The property was built for IHOP and they have occupied and maintained the building since it was completed. The Tenant is an affiliate of the nation’s second largest IHOP franchisee with 75 IHOP locations. Part of the Argonne Capital Group, the Tenant and Guarantor, and thus the Landlord, benefit from ACG’s expertise, experience, and financial strength.
Annual Rent: $136,223 (first year)
Cap Rate: 5.75%
209 S. Southwest Loop 323, Tyler, Texas 75702