Skip to main content

Restaurant

IHOP | Absolute Net Ground Lease

3222 Geier Dr, Cincinnati, OH 45209

Listing Price: $2,158,000

Cap Rate
6.24%
Tenant Name
IHOP
Guarantor
Corporate Guarantee
Rentable SF
4,582
Lease Type
Absolute Net
Rent Per Square Feet
$29.40

Investment Overview

Four years remaining on an original 25-year corporate ground lease with IHOP. The ground lease has an absolute net expense basis with no landlord responsibilities whatsoever; the tenant pays for all operating expenses. There are fixed 10% rent increases every five years during the option periods, providing predictable increasing cash flow. IHOP sits at the interchange of Interstate 71 and Norwood Lateral Parkway and is easily accessible. IHOP is an outparcel in the 550,000 square foot Center of Cincinnati shopping center and benefits from the drawing power created by Target, Meijer, At Home, LA Fitness, Dollar Tree, and Urban Air. Situated in a rapidly transforming area with more than 700 apartment units and 300 hotel rooms developed in the neighborhood in the last five years, with another 600 residential units currently planned or under construction.

Investment Highlights

  • Corporate Ground Lease: Four years remaining on an original 25-year corporate ground lease with IHOP
  • No Landlord Responsibilities: The ground lease has an absolute net expense basis with no landlord responsibilities whatsoever; the tenant pays for all operating expenses
  • Favorable Rent Increases: There are fixed 10% rent increases every five years during the option periods, providing predictable increasing cash flow
  • Good Access and Visibility: IHOP sits at the interchange of Interstate 71 and Norwood Lateral Parkway and is easily accessible
  • Excellent Drawing Power: IHOP is an outparcel in the 550,000 square foot Center of Cincinnati shopping center and benefits from the drawing power created by Target, Meijer, At Home, LA Fitness, Dollar Tree, and Urban Air
  • Rapidly Transforming Area: More than 700 apartment units and 300 hotel rooms have been developed in the neighborhood in the last five years, with another 600 residential units currently planned or under construction

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Executive Managing Director / Chief Revenue Officer

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Restaurant

IHOP | Absolute Net Ground Lease

Listing Price: $2,158,000

Cap Rate
6.24%
Tenant Name
IHOP
Guarantor
Corporate Guarantee
Rentable SF
4,582
Lease Type
Absolute Net
Rent Per Square Feet
$29.40

Investment Highlights

  • Corporate Ground Lease: Four years remaining on an original 25-year corporate ground lease with IHOP
  • No Landlord Responsibilities: The ground lease has an absolute net expense basis with no landlord responsibilities whatsoever; the tenant pays for all operating expenses
  • Favorable Rent Increases: There are fixed 10% rent increases every five years during the option periods, providing predictable increasing cash flow
  • Good Access and Visibility: IHOP sits at the interchange of Interstate 71 and Norwood Lateral Parkway and is easily accessible
  • Excellent Drawing Power: IHOP is an outparcel in the 550,000 square foot Center of Cincinnati shopping center and benefits from the drawing power created by Target, Meijer, At Home, LA Fitness, Dollar Tree, and Urban Air
  • Rapidly Transforming Area: More than 700 apartment units and 300 hotel rooms have been developed in the neighborhood in the last five years, with another 600 residential units currently planned or under construction

Investment Overview

Four years remaining on an original 25-year corporate ground lease with IHOP. The ground lease has an absolute net expense basis with no landlord responsibilities whatsoever; the tenant pays for all operating expenses. There are fixed 10% rent increases every five years during the option periods, providing predictable increasing cash flow. IHOP sits at the interchange of Interstate 71 and Norwood Lateral Parkway and is easily accessible. IHOP is an outparcel in the 550,000 square foot Center of Cincinnati shopping center and benefits from the drawing power created by Target, Meijer, At Home, LA Fitness, Dollar Tree, and Urban Air. Situated in a rapidly transforming area with more than 700 apartment units and 300 hotel rooms developed in the neighborhood in the last five years, with another 600 residential units currently planned or under construction.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Executive Managing Director / Chief Revenue Officer

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

MM Texture Background
MM Textured Background Lower