IHOP - 24 Hour Location
ABSOLUTE NNN | 10-YEAR SLB at COE | 24-HOUR LOCATION
Marketing description
Current Real Estate Advisors is pleased to present the opportunity to acquire IHOP - Cape Girardeau (the "Property"), a freestanding, single-tenant ±5,030 SF building located on a 1.01 acre lot in Cape Girardeau, MO. The Property benefits from an Absolute NNN lease, imposing zero landlord responsibilities and delivering a fully passive income stream. This asset is part of a Portfolio (see Page 3 for details) and may be acquired separately or together.
This offering is structured as a Sale-Leaseback transaction, with a brand-new 10-year lease to be executed at closing, featuring 10% rental escalations every five years and 4, 5-year renewal options—reflecting the operator's long-term commitment to and confidence in this location.
The Tenant is a proven, multi-concept operator with an established track record across multiple brands and franchise systems. The Property is a strong performer, evidenced by healthy unit-level sales and a favorable Rent-to-Sales ratio—underscoring the durability and resilience of the underlying cash flow.
IHOP - Cape Girardeau represents a compelling opportunity to acquire income-producing real estate within established Midwest market, backed by a committed operator and underpinned by a stable, long-term passive income stream.
Investment highlights
- Established Location + New 24/7 Operating Model - This location has been operational and consistently successful for 12+ years, demonstrating strong historical performance, while benefitting from the recent conversion to 24-Hour operations
- Secure + Steady Income Stream - The Property will benefit from a brand-new, 10-year Absolute NNN lease executed at closing, with zero landlord responsibilities, delivering a fully passive, management-free income stream from day one
- Strong Unit-Level Sales Performance - This location demonstrates healthy sales volume and a favorable Rent-to-Sales ratio, providing tangible evidence of established consumer demand and the long-term viability within its respective submarket
- Robust RE Fundamentals - Located right off I-55 (100 Miles from St. Louis) as an outparcel to Schnucks along a major retail corridor, the Property is surrounded by recognized retailers such as Walmart, Tractor Supply, Hobby Lobby, Aldi, Harbor Freight, CVS and Walgreens, amongst several others
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