IHOP | $3,636,364 | 5.50% CAP
This brand new 23-year absolute-net lease IHOP offers an attractive investment opportunity with annual rent increases of 1.5%. Situated just 1.5 miles from Antelope Valley College, a bustling educational institution with over 15,800 students and a staff of 850+, this location benefits from a steady stream of potential customers.
Conveniently located off the Antelope Valley Freeway, with a daily traffic volume of 63,600+ vehicles, the property is positioned at a bustling intersection where West Avenue K and 17th Street West intersect, boasting a combined traffic count of 34,200+. This high-visibility location ensures a steady flow of passersby.
In the immediate vicinity, there is a substantial apartment complex with 800 units and numerous nearby hotels, making it easily accessible to a wide range of potential customers and residents.
Within a mile's radius, you'll find the IHOP Restaurant and Antelope Valley Medical Center, a 420-bed hospital with a workforce of over 2,500 employees. This further enhances the property's appeal, as it draws in both local residents and hospital staff.
Moreover, this property is strategically located across the freeway from Lancaster's largest shopping center, featuring prominent tenants such as Costco, Target, Sprouts, WinCo, Big Lots, 24 Hour Fitness, Boot Barn, Ross, Big 5 Sporting Goods, Chick-fil-A, Taco Bell, Dutch Bros Coffee, Starbucks, Dunkin Donuts, and Farmer Boys, among others. This ensures a steady flow of potential customers from a diverse range of retail and dining options, making it a prime investment opportunity.