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Restaurant

IHOP

970 Thornton Road, Lithia Springs, GA 30122

Listing Price: $2,700,000

Cap Rate
5.93%
Tenant Name
IHOP
Years Remaining On Lease
9.3
Guarantor
Corporate Guarantee
Rentable SF
4,722
Lease Type
Absolute Net
Rent Per Square Feet
$33.88

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale IHOP located at 970 Thornton Road in Lithia Springs (Atlanta MSA), Georgia. The subject property is a single-tenant restaurant building located at the interchange of Interstate 20 and Thornton Road. The property was constructed as a build-to-suit for IHOP in 1995 and they have occupied the building since that time. IHOP recently exercised two renewal options to extend their lease for a term of 10 years. The lease has an absolute net expense basis with 10% rent increases every five years. The building is located along a major commercial thoroughfare that is developed with multiple hotels and auto dealerships. There are 15 hotels within a one-mile radius of the property and 11 auto dealerships in the same radius. Thornton Road is a major retail corridor and national retailers in the area include Walmart, Kroger, and The Home Depot. Finally, The area near the property is developed with multiple distribution facilities for companies like Amazon, Abbott Laboratories, Google, Quaker Oats, and FedEx.

Investment Highlights

  • Tenant Has Been at This Location for 25 Years
  • Rent-to-Sales Ratio Near 8.0%
  • Property is Situated at the Interchange of Interstate 20 and Thornton Road
  • Traffic Counts on Thornton Road Exceed 65,000 Vehicles Per Day
  • Demand Drivers for This Trade Area Include 15 Hotels and 11 Auto Dealerships Within One Mile
  • Absolute Net Corporate Lease with IHOP
  • IHOP Recently Exercised Two Renewal Options to Extend Lease by 10 Years
  • 10% Rent Increases Every Five Years

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Listing Price: $2,700,000

Cap Rate
5.93%
Tenant Name
IHOP
Years Remaining On Lease
9.3
Guarantor
Corporate Guarantee
Rentable SF
4,722
Lease Type
Absolute Net
Rent Per Square Feet
$33.88

Investment Highlights

  • Tenant Has Been at This Location for 25 Years
  • Rent-to-Sales Ratio Near 8.0%
  • Property is Situated at the Interchange of Interstate 20 and Thornton Road
  • Traffic Counts on Thornton Road Exceed 65,000 Vehicles Per Day
  • Demand Drivers for This Trade Area Include 15 Hotels and 11 Auto Dealerships Within One Mile
  • Absolute Net Corporate Lease with IHOP
  • IHOP Recently Exercised Two Renewal Options to Extend Lease by 10 Years
  • 10% Rent Increases Every Five Years

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale IHOP located at 970 Thornton Road in Lithia Springs (Atlanta MSA), Georgia. The subject property is a single-tenant restaurant building located at the interchange of Interstate 20 and Thornton Road. The property was constructed as a build-to-suit for IHOP in 1995 and they have occupied the building since that time. IHOP recently exercised two renewal options to extend their lease for a term of 10 years. The lease has an absolute net expense basis with 10% rent increases every five years. The building is located along a major commercial thoroughfare that is developed with multiple hotels and auto dealerships. There are 15 hotels within a one-mile radius of the property and 11 auto dealerships in the same radius. Thornton Road is a major retail corridor and national retailers in the area include Walmart, Kroger, and The Home Depot. Finally, The area near the property is developed with multiple distribution facilities for companies like Amazon, Abbott Laboratories, Google, Quaker Oats, and FedEx.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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