3101 W OAKLAND PARK BLVD Oakland Park FL 33311-1229

PRICE REDUCED - Marcus & Millichap is pleased to exclusively offer the sale of 3101 W Oakland Park Boulevard. This IHOP has been operating at this location since 1972, showing a strong commitment to this location. This site is operated by Sunshine Restaurant Partners, who is the largest IHOP franchisee, with over 150 restaurants throughout Florida and Southern Georgia.

This is an Absolute NNN lease. IHOP recently extended for 5 more years in February 2022 with two 5-year options remaining. IHOP has a fixed base monthly rent, which is a portion of their total percentage rent equal to 8% of the gross annual store sales and is paid bi-annually.

The property is located at the signalized intersection of Oakland Park Boulevard and M.L.K Jr Avenue, with a combined daily traffic count of 107,000 vehicles per day, a population of more than 470,000 people, and an average household income of $71,804 within five miles of the subject property. This corner is an outparcel in a major retail corridor and surrounded by national retailers, as well as new and planned housing developments.

This deal is a perfect opportunity for a buyer who is in a 1031 and would like to secure an excellent hard signalized corner with a well-known national brand in the Fort Lauderdale Metropolitan Area, the seventh largest MSA in the United States.

• Signalized intersection with over 107k vehicles per day

• Largest IHOP Franchisee with Over 150 Restaurants Throughout Florida and Southern Georgia

• 50 years of operation at this location, Showing a Strong Commitment to the Site

• Absolute NNN - Lease Recently Extended

• 8% Rent to Sale ratio

The tenant is Sunshine Restaurant Partners which is one of the largest IHOP franchisees with over 150 restaurants throughout Florida and Southern Georgia. In addition, IHOP has been operating at this location since 1972, showing a strong commitment to the site.

The subject property is located at the signalized intersection of Oakland Park Boulevard and M.L.K Jr Avenue with a combined daily traffic count of 107,000 vehicles and is an outparcel to the USA Oakland Park Flea Market Mall.

Surrounding national retailers include Walmart Supercenter, Home Depot, Lowe's, Rooms To Go Outlet, Aldi, Ross, Burlington, Save A Lot, YouFit, Office Depot, Family Dollar, Walgreens, CVS, Popeyes, McDonalds, Dunkin Donuts, Taco Bell and many more. Located in Broward County which has a total population of 1.9 million people, and three miles north of Fort Lauderdale, there is a population of more than 470,000 within a five-mile radius of the subject property.

• Investment Highlights
• IHOP has been Operating at this Location Since 1972, Showing a Strong Commitment to the Site
• Largest IHOP Franchisee with Over 150 Restaurants Throughout Florida and Southern Georgia
• Long Term, Triple Net (NNN) Lease with Two Years Remaining
• Three, Five-Year Renewal Options
• Annual Rent is Based on Eight Percent of Gross Annual Sales
• Located at the Signalized Intersection of Oakland Park Boulevard and M.L.K Jr Avenue with a Combined Daily Traffic Count of 107,000 Vehicles
• Population of More Than 470,000 Within Five Miles of Subject Property
• Surrounding National Retailers Include Walmart Supercenter, Home Depot, Lowe's, Rooms To Go Outlet, Aldi, Ross, Burlington, Save A Lot, YouFit, Office Depot, Family Dollar, Walgreens, CVS, Popeyes, McDonald’s, Dunkin Donuts, Taco Bell and Many More