IHOP

2612 South Highway 77, Kingsville, TX 78363

$2,285,714

Cap Rate 7.00%

Views: 96 Updated: 04.01.24 Posted: 09.08.23 Status: Inactive 03.27.24

Summary

Price $2,285,714	Built/Renov 2007	Tenant IHOP
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 5,163	Lease Start 11-01-2023	#Units 6
Price/SF $442.71	Expiration 10-31-2033	Tenant Type Casual Dining
NOI $160,000	R. Term 8.10	Ownership Fee Simple
Rent/SF $30.99	Increases 2.0%/1/yrs	Pop 5Mi 27,064
Lot/AC 1.58	Options 4/5yrs/2%	AHHI 5Mi $60,444

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

IHOP will be signing a brand-new 10-year lease with 4 (5-year) options to extend at the close of escrow
Lease features a 2% annual rental increase throughout the initial term and each option
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Haidar Properties

Location Description

This IHOP is strategically located with exceptional visibility and convenient access from Highway 77, a route frequented by more than 26,400 vehicles daily. The site benefits from its proximity to Christus Spohn Hospital, hosting 106 beds and a workforce of 197 professionals. It is also just 1 mile from HM King Early College High School which accommodates nearly 1000 students and staff...

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Key Features

Near major nationals
Strategically located
Highway location
Hospital close
Income tax free state
Brand new lease
Absolute NNN
Long 10+ yr lease
Annual rent increases
Publicly traded company

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Links

IHOP Wikipedia IHOP Wikipedia Kingsville, Texas Zip Code 78363 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: IHOP
Guarantor:Franchisee
Company:Haidar Properties
# Units:6
Stock: NYSE: DIN

About Tenant

IHOP (acronym for International House of Pancakes) is an American multinational pancake house restaurant chain that specializes in breakfast foods. While IHOP's focus is on breakfast, serving...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,036	20,512	26,674
2023 Total Population :	4,083	20,738	26,916
2023 Employed Civilian Pop :	1,708	8,706	11,165
2023 Total Businesses :	152	786	880
2023 Average Household Income :	$ 91,323	$ 67,531	$ 67,096
2023 Total Consumer Spending :	$ 126 M	$ 469 M	$ 593 M
2023 Median Age :	29	32	31
2023 Total Households :	1,574	7,908	10,075
2023 Pop Age 25+: Bachelor's Degree :	688	2,198	2,858
2023 Average Home Value :	$ 187,342	$ 139,599	$ 145,048

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	N US Hwy 77	2021	3,922	0.06 mi
East General Cavazos Boulevard	Andy Gonzales Cir	2021	15,129	0.20 mi
	S US Hwy 77	2021	2,171	0.32 mi
	S FM 425	2021	3,936	0.33 mi
FM 3320	FM 3320	2021	2,508	0.33 mi
Farm to Market Road 3320	E General Cavazos Blvd	2020	2,695	0.33 mi
Farm to Market Road 3320	S FM 425	2020	1,333	0.42 mi
S FM 425	E Ailsie Ave	2002	3,200	0.50 mi
U.S. Highway 77	S FM 425	2021	21,744	0.51 mi
Senator Carlos Truan Boulevard	E Ailsie Ave	2020	3,676	0.53 mi

Listing Broker

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