2502 W Ferguson Rd
Mount Pleasant, TX 75455

IHOP has a brand new 15-year Absolute NNN lease with attractive 8% rental escalations every 5 years, and three 5-year renewal options. The tenant has experienced operators with 12 locations in Texas and Louisiana (6 of these locations back the performance of this lease). This asset has been successfully open and operating since 2009 and has estimated +$200,000 interior/exterior remodel by YE 2019 – showing tenant’s commitment to this location! IHOP is located in Mount Pleasant, Texas on US Route 271 with excellent drive-by visibility. Nearby retailers include: Lowe’s Home Improvement, Brookshire, Super 1 Foods, Family Dollar, Harbor Freight Tools, Rent-A-Center, Aaron’s, Cato, Goodwill, Sally Beauty, True Value Hardware, Walgreens, CVS Pharmacy, T-Mobile, Cricket Wireless, O’Reilly Auto Parts, NAPA Auto Parts, AutoZone, Anytime Fitness, Walmart Supercenter, The Home Depot, Tractor Supply Co., Dollar Tree, Hibbett Sports, Staples, Bealls, Verizon, etc. The subject location is 9 miles from Northeast Texas Community College (enrollment of 3,229) and 2 miles from Titus Regional Medical Center (174 beds). *In Association with Texas Local Broker: Paul Blackburn, Blackburn Properties #376821