

2248 North Webb Road
Absolute NNN IHOP with 15-Year Lease and Built-In Rent Escalations
Investment highlights
• Long-Term ABS NNN Lease | 15 Years Remaining: The tenant has executed an absolute NNN lease with zero landlord responsibilities and built-in 10% rent increases every five years.
• Three Additional Five-Year Options: Beyond the primary term, the tenant holds three renewal options, providing potential occupancy well into the 2040s.
• Inflation-Protected Income: 10% rent bumps every five years drive the yield from a 6.25% entry cap to 7.56% by Year 11, with option period floors reaching 10.07% over the full hold.
• Dominant Retail Corridor on N. Webb Road / US-281: Positioned along one of Grand Island's primary north/south commercial arteries at the intersection of W. Capital Avenue, ensuring consistent daily traffic and strong retail visibility.
• Highway 281 Corridor Access: Direct frontage and access along US-281, a major regional corridor connecting Grand Island to Hastings and Kearney to the south and Columbus to the north, capturing significant transient and drive-through customer volume.
• Power Retail Synergy: Surrounded by high-traffic national anchors including Walmart Supercenter, Sam's Club, Culver's, Chick-fil-A, Denver Mattress, Menards, OfficeMax, Sleep Number, and Subway, driving consistent repeat visitation and reinforcing long-term real estate value.
• Northwest Commons Submarket: Located within the dominant retail node in Grand Island, the Northwest Commons corridor represents the highest concentration of national retail in the market.
• Dominant Breakfast Brand: IHOP is a household name with over 1,800 locations nationwide, franchised under Dine Brands Global, Inc. (NYSE: DIN).
• Experienced Franchisee: An established multi-state IHOP operator managing 16 locations across Kansas, Missouri, and Texas.
• Purpose-Built, Modern Asset: Constructed in 2021 on a 0.82-acre freehold site, this location reflects a long-term capital commitment by the franchisee and represents a flagship-quality asset within the regional IHOP system.
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