Ihop

12634 Indore Place, Littleton, CO

$1,595,000

Price

14.82%

Cap Rate

$236,345

NOI

Overview
Cap Rate
14.82%
NOI
$236,345
Building Size
5,108 sqft
Lot Area
0.899 acres
Occupancy
100%
Year Built
2001
Description

NNN Investment Advisors is pleased to present the exclusive opportunity to purchase this Value Add Absolute NNN lease, rare corporate guaranteed IHOP in affluent Littleton, Colorado, which is a suburb of the Denver MSA. As of October 2019, there are 14 months remaining on the corporate IHOP Lease, which generates $285,879 + NNN throughout the remainder of the lease term. The in-place lease provides an investor substantial cash flow through the remainder of the term. Property is priced well below replacement cost, offering an investor significant upside potential. Strategically positioned on the heavily trafficked West Ken Caryl Ave with high visibility to over 21,000 VPD and just off of I-470 with 48,000+VPD. The property sits on .89 acres with a 5,108 SF. This is a dining destination for business travelers staying at the three nationally flagged hotels surrounding the property (which maintain high occupancy rates - year round) and the local community of 64,000+ residents in a 3- mile area and 131,242 residents within 5 miles. Chatfield High School (1,900 students) is less than 5 minutes away and the brand new 250-unit Bell Ken-Caryl apartment community is within walking distance.

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Highlights
  • Priced well below replacement cost and Arapahoe County assessed value of $2,495,000
  • Highly Visible Location to Over 21,000 Vehicles Per Day
  • Value-Add or Development Opportunity with Ability to Re-Tenant Existing Structure – •Corporate IHOP Lease provides approx $286,879 of net income through the remainder of the lease term (as of October 2019).
  • Walking Distance to 3 National Hotels (249 rooms)
  • Absolute Triple Net lease - No Landlord Responsibilities
  • Strategically Located Adjacent to Safeway Grocery Anchor
  • Denver MSA with Location on Well-Traveled Thoroughfare
  • Convenient Access to State Road 470 - 48,000 Vehicles Per Day
  • Nearly 20 Years of Operating History
  • 1 Mile from Chatfield Senior High School - 1,900 Students
  • Walking Distance to New Bell Ken-Caryl Class A, 250-Unit, Apartment Community
Documents

Location
Gallery