IHOP | $2,563,636 | 5.50% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale IHOP a single-tenant property located at 3090 North Chestnut Drive, Colorado Springs, Colorado 80907.
IHOP, who has occupied this site for 6 years, has signed a new 25 year absolute-net lease with 7.5% rental increases every five years. The reported store sales for this location are $1.77M equating to a 7.97% rent-to-sales ratio. IHOP is located on Interstate 25 which oversees 128,000+ vehicles per day. IHOP benefits from being only 1.5 miles from Coronado High School which has 1,362 students.
JHAH, LP has been in the restaurant industry for over 45 years and currently operates brands in five different states: Colorado, Louisiana, Mississippi, Kansas, Missouri, and Texas. JHAH, LP currently operates 24 IHOP Units.