Listed by SURMOUNT
$1,808,000
IHOP
Details
Property Type Retail
Sub Type Restaurant
Square Footage 5,034
Cap Rate 6.5%
NOI $117,500
Occupancy 100%
Tenancy Single
Brand/Tenant IHOP
Lease Type NN+
Lease Term 10
Lease Expiration 04/30/2036
Remaining Term 9.9
Price per SqFt $359
Year Built 1987
Acreage 0.690
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 05/01/2026
Ownership Fee Simple
Retail | 6.50% CAP | 5,034 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for an IHOP located at 3252 Riverside Drive, Bakersfield, CA 93308. The site consists of roughly 5,034 rentable square feet of building space on an estimated .69-acre parcel of land. IHOP is subject to a 10-year NN+ lease, which commenced 5/1/2026. The current annual rent is $117,500 and has scheduled increases of 10.00% Every 5 Years.
Investment highlights
- NN+ Lease with Minimal Landlord Responsibilities | Landlord responsible only for roof and exterior structural walls; tenant responsible for all other operating expenses including taxes, insurance, utilities, and maintenance.
- Established Operating History | Operating at this location since 1991, IHOP has shown long-term commitment to the site, with multiple lease extensions exercised and steady rent growth.
- Rental Income with Percentage Rent Component | In addition to base rent, the lease includes a 5% percentage rent on gross sales, providing potential upside tied directly to tenant performance.
- Outparcel to La Quinta Hotel with Cross-Easements | The property benefits from reciprocal access, signage, and parking easements with the adjacent La Quinta Inn, increasing visibility and shared customer traffic.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$117,500.00
$9,791.67/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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