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Restaurant

IHOP

2001 Freeway Dr, Mount Vernon, WA 98273

Listing Price: $3,590,000

Cap Rate
5.15%
Tenant Name
IHOP
Years Remaining On Lease
10.7
Guarantor
Local or Regional Franchisee
Rentable SF
4,856
Lease Type
Absolute Net
Rent Per Square Feet
$38.10

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale an IHOP restaurant located alongside I-5 in rapidly growing Mt. Vernon, WA. The Property benefits from its close proximity to I-5 (70,000+ VPD) and is located between a highvolume Walmart and Lowe’s Home Improvement. The Property features roughly 10.75 years of lease term remaining on the original 20 year lease and is guaranteed by the largest IHOP franchisee in the Northwest United States. The lease type is absolute NNN with the landlord having no management or repair responsibilities. Dine Brands Global (NYSE: DIN), the parent company of IHOP and Applebee’s Grill + Bar, is one of the world’s largest fullservice dining companies with over 3,530 locations in 17 countries.

Investment Highlights

  • HIGH-VISIBILITY I-5 CORRIDOR LOCATION
  • LOCATED BETWEEN HIGH-VOLUME WALMART, LOWE'S AND 7-ELEVEN GAS STATION
  • 10+ YEAR ABSOLUTE NNN LEASE
  • STRONG FRANCHISEE GUARANTEE
  • HIGH-QUALITY 2012 CONSTRUCTION
  • 7.5% RENT INCREASES EVERY 5-YEARS
  • ABSOLUTE NNN LEASE

Exclusively Listed By

Listing Price: $3,590,000

Cap Rate
5.15%
Tenant Name
IHOP
Years Remaining On Lease
10.7
Guarantor
Local or Regional Franchisee
Rentable SF
4,856
Lease Type
Absolute Net
Rent Per Square Feet
$38.10

Investment Highlights

  • HIGH-VISIBILITY I-5 CORRIDOR LOCATION
  • LOCATED BETWEEN HIGH-VOLUME WALMART, LOWE'S AND 7-ELEVEN GAS STATION
  • 10+ YEAR ABSOLUTE NNN LEASE
  • STRONG FRANCHISEE GUARANTEE
  • HIGH-QUALITY 2012 CONSTRUCTION
  • 7.5% RENT INCREASES EVERY 5-YEARS
  • ABSOLUTE NNN LEASE

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale an IHOP restaurant located alongside I-5 in rapidly growing Mt. Vernon, WA. The Property benefits from its close proximity to I-5 (70,000+ VPD) and is located between a highvolume Walmart and Lowe’s Home Improvement. The Property features roughly 10.75 years of lease term remaining on the original 20 year lease and is guaranteed by the largest IHOP franchisee in the Northwest United States. The lease type is absolute NNN with the landlord having no management or repair responsibilities. Dine Brands Global (NYSE: DIN), the parent company of IHOP and Applebee’s Grill + Bar, is one of the world’s largest fullservice dining companies with over 3,530 locations in 17 countries.

Exclusively Listed By

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