IHOP

1001 E 17th St Santa Ana , CA 92701

IHOP - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a NNN leased IHOP located in Santa Ana, Orange County, California (Los Angeles MSA). The Property is a freestanding retail building that is tenanted by Pesah Corporation (d/b/a IHOP) on a NNN lease with no landlord responsibilities. The Tenant is a multi-unit franchisee operator and just signed a new lease, for a fresh 15 year lease term with 2, 5-year renewal options. The Asset is along 17th Street (32,000+ VPD) in Santa Ana, and in close proximity to the Santa Ana Freeway/Interstate 5 (373,000+ VPD). The Asset is adjacent to Santiago Villas Senior Apartments (89 Units), and is one of the few full service, sit-down restaurants in the Asset’s vicinity. Santa Ana is one of the densest cities in the United States, which is evident by the 316,000+ residents with an average house hold income of over $81,000+ within 3-mile radius of the Asset.

Investment Highlights


  • The Tenant has a long history at this location with an affirmed commitment to this location by signing a brand-new 15 year lease
  • The Tenant is on a NNN lease with no landlord responsibilities
  • The Asset is located along East 17th St. (32,000+ VPD) and adjacent to a Senior Apartment facility with 89 units
  • The Tenant is a multi-unit franchisee operator
  • This IHOP is one of the few full service, sit-down restaurants in the Asset’s vicinity and is open 24 hours
  • The Asset is in close proximity to the on/off ramp to access the Santa Ana Freeway/Interstate 5 (373,000+ VPD)
  • Santa Ana is the county seat of Orange County, California and located 35 miles south of Los Angeles, CA
  • Santa Ana is known for being one of the densest cities in the United States, with over 316,000+ residents with an average household income of over $81,000+ within a 3 mile radius of the Asset
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 1001 E 17th St, Santa Ana, CA 92701-2546
Building Size 4,062  ft2
Financial
Price $3,050,000
Cap Rate 4.46%
Current NOI $136,000.00
Lease
Tenant's Name Pesah Corporation
Lease Type NNN
Annual Rent $136,000.00
Lease Expiration Date 12/31/2033
Remaining Term 14.7Yrs
Download Offering Memorandum

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