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IHOP - New 20 Yr ABS NNN 7735 Marsha Sharp fwy

4,126 SF 100% Leased Retail Building Lubbock, TX 79424 $3,962,000 ($960/SF) 5.30% Cap Rate

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Investment Highlights

New 20-Year Absolute Triple-Net (NNN) Lease with a Top IHOP Franchisee - 118 Location Operator/Guarantor
Easily Accessible Location with Close Proximity to US 62 (25,418 Cars per Day)
Location within a 15-Minute Drive of Downtown Lubbock

10 Percent Rental Increases Every Five Years with Multiple Renewal Options
Part of the Future Covenant Park Development [72-Acre Mixed Use Development]

Executive Summary

Home to Texas Tech, one of the largest universities in the state, Lubbock is also the most populous metro in the western Texas and eastern New Mexico region. The county seat of Lubbock County, the city is home to an estimated 329,000 residents. IHOP® competes in the Family Dining segment of the restaurant industry, and all IHOP restaurants are owned by independent franchise operators. For 65 years, the IHOP family restaurant chain has served its world famous pancakes and a wide variety of breakfast, lunch and dinner items that are loved by people of all ages.

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