IHOP

3300 West Highway 44, Alice, TX 78332

$2,400,000

Cap Rate 6.00%

Views: 109 DOM: 488 Updated: 09.05.24 Posted: 05.08.23 Status: Active

Summary

Price $2,400,000	Built/Renov 2015	Tenant IHOP
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,322	Lease Start 10-15-2015	#Units 30
Price/SF $555.30	Expiration 10-31-2035	Tenant Type Casual Dining
NOI $144,000	R. Term 11.1	Ownership Fee Simple
Rent/SF $33.32	Increases 0.0%/0/yrs	Pop 5Mi 21,867
Lot/AC 1.22	Options 2/5yrs	AHHI 5Mi $62,229

Lease Highlights

IHOP has been operating in this location since 2015
Tenant has over 12 years remaining on the current lease term with 2 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Personal guarantee by Haidar Properties (over 30 units backed)

Location Description

This net leased IHOP property is conveniently located off of Highway 44, which boasts a traffic count of approximately 12,000 vehicles passing by daily. This property is located in immediate proximity to a Walmart Supercenter, with the center also including Dollar Tree, Murphy USA, Wingstop, and more. The local retail area is additionally supported by neighboring tenants Whataburger, HEB,...

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Key Features

Near major nationals
Highway location
Strong tenant synergy
Income tax free state
Absolute NNN
Long 10+ yr lease
Personal guarantee
25+ unit franchisee backed

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Links

IHOP Wikipedia IHOP Wikipedia Alice, Texas Zip Code 78332 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: IHOP
Guarantor:Franchisee
Company:Haidar Properties
# Units:30
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,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	382	5,679	21,284
2023 Total Population :	390	5,807	21,694
2023 Employed Civilian Pop :	182	2,088	8,506
2023 Total Businesses :	20	170	782
2023 Average Household Income :	$ 91,897	$ 59,300	$ 69,191
2023 Total Consumer Spending :	$ 11 M	$ 112 M	$ 486 M
2023 Median Age :	37	34	35
2023 Total Households :	145	2,124	7,906
2023 Pop Age 25+: Bachelor's Degree :	17	196	1,700
2023 Average Home Value :	$ 237,970	$ 111,812	$ 127,132

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Co Rd 133	2021	12,428	0.15 mi
State Hwy 44	Co Rd 132	2002	11,500	0.23 mi
Farm to Market Road 2507	FM 1554	2021	1,311	0.36 mi
	State Hwy 44 W	2021	1,152	1.05 mi
	State Hwy 359	2021	1,714	1.05 mi
TX 121	US Hwy 281	2020	9,255	1.10 mi
	Hwy 281	2021	9,687	1.11 mi
Farm to Market Road 1554	FM 2507	2021	1,058	1.12 mi
Farm to Market Road 1554	Kenny Dr	2020	1,135	1.12 mi
	US Hwy 281	2021	933	1.13 mi

Listing Broker

Tyler Strauss

Faris Lee Investments

Contact

17 Listings
1985 Views
7 Sold

Hunter Steffien

Faris Lee Investments

Contact

22 Listings
2503 Views
10 Sold

Tyler Strauss

As an Associate at Faris Lee Investments, Mr. Strauss specializes in the acquisition and disposition of single-tenant net leased investments, national portfolios and sale/leasebacks nationwide. Furthermore, Tyler specializes in creative solutions including but not limited to lease structure, development advisory, break-ups, and pre-sale strategies. In addition, his clients benefit from his financial counsel and ability to produce customized marketing programs to maximize the best outcome. Mr. S

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Hunter Steffien

As a Director at Faris Lee Investments, Hunter Steffien specializes in the acquisition and disposition of net leased investments with a specific focus Single Tenant Assets. Mr. Steffien hit the ground running with Faris Lee Investments by quickly becoming a top performer in the company and earning an astounding reputation amongst his clients who consist of private-office owners, developers, REITS, franchisees & corporate restaurant chains. Mr. Steffien’s early and continued success is based

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