Investment Overview

Marcus & Millichap is pleased to exclusively offer the sale of 3101 W Oakland Park Boulevard. This IHOP has been operating at this location since 1972, showing a strong commitment to this location. This site is operated by Sunshine Restaurant Partners, who is the largest IHOP franchisee, with over 150 restaurants throughout Florida and Southern Georgia. This is an Absolute NNN lease. IHOP recently extended for 5 more years in February 2022 with two 5-year options remaining. IHOP has a fixed base monthly rent, which is a portion of their total percentage rent equal to 8% of the gross annual store sales and is paid bi-annually. The property is located at the signalized intersection of Oakland Park Boulevard and M.L.K Jr Avenue, with a combined daily traffic count of 107,000 vehicles per day, a population of more than 470,000 people, and an average household income of $71,804 within five miles of the subject property. This corner is an outparcel to USA Oakland Park Flea Market Mall and surrounded by national retailers, as well as new and planned housing developments. This deal is a perfect opportunity for a buyer who is in a 1031 and would like to secure an excellent hard signalized corner with a well-known national brand in the Fort Lauderdale Metropolitan Area, the seventh largest MSA in the United States.