IHOP | 8901 Interstate 35
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IHOP 8901 Interstate 35
4,127 SF Retail Building Austin, TX 78744 $2,750,000 ($666/SF) 6.70% Cap Rate
Investment Highlights
- Original Lease Term | 20 Years
- 1.25% Rental Increases Annually
- Approximately 5.6 Years Remaining
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for an IHOP located at 8901 S. I-35, Austin, TX 78747. The site consists of roughly 4,127 rentable square feet of building space on an estimated 0.83-acre parcel of land. This IHOP is subject to a 20-year Triple Net (NNN) lease, which commenced 2/1/2004. The current annual rent is $184,245 and has scheduled increases of 1.25% Annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,127 SF
Building Class
B
Year Built
2004
Price
$2,750,000
Price Per SF
$666
Cap Rate
6.70%
NOI
$184,245
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Land Acres
0.83 AC
Zoning
CS-CO, Austin
Frontage
219 FT on Interstate Hwy 35
Amenities
- Freeway Visibility
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 576182 | Improvements Assessment | $923,991 |
| Land Assessment | $725,700 | Total Assessment | $1,649,691 |
PROPERTY TAXES
Parcel Number
576182
Land Assessment
$725,700
Improvements Assessment
$923,991
Total Assessment
$1,649,691
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Jonathan Eckerd -
Thomas Jonsson -
Alan Laulainen -
Kyle Barone -
NNN Pro Group
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IHOP | 8901 Interstate 35
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