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IHOP Turlock

1625 Countryside Drive, Turlock, CA, 95380
For Sale

Property Highlights

    • Significantly below market rent ($13.28 psf per year)
    • No remaining options – Lease expires on February 28, 2031
    • Pad site to 330,000 sf center anchored by Walmart and FoodMaxx
    • Just off Golden State Highway (RT 99) with 117,000 VPD
    • Costco, Target, Lowe's, Home Depot, Kohl's and Safeway are located to the north
    • According to CoStar, Applebee's rent is almost 4x IHOP’s
    • IHOP’s last option expires on February 29th, 2031

Property Details

  • Price: $1,700,000
  • Property Type: Retail
  • Transaction Type: For Sale
  • Cap Rate: 3.65%
  • Building Size: 4,694 SF
  • Lot Size: 0.7 AC

Property Description

The property is a free-standing 4,694 sf IHOP restaurant on .70 acres of land. There are 2.5 years remaining on an absolute triple net lease with one remaining option at the same rent. IHOP is currently paying $13.28 psf per year which is significantly below market. According to CoStar, Applebee’s build to suit rent is reported to be $43.00 psf and Cool Hand Luke is paying approximately $32.00 psf. IHOP’s last remaining option expires on February 29, 2031.

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Financial Summary

Investment Highlights

Price $0.00
Price / Unit $0.00
Gross Rent Multiplier 0.00
Proposed Loan Amount $0.00
Initial Investment $0.00

 

Income & Expenses

Income
Potential
Current

 

Expense
Potential
Current
Total Expenses
$ 0.00
$ 0.00
Net Operating Income$0.00$0.00
Less Debt Service$0$0
Potential Net Cash Flow$0.00$0.00
Cash on Cash Return0.00 %0.00 %
Capitalization Rate0.00 %0.00 %

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires

Totals

$ 0.00

$ 0.00

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