Single Tenant NNN IHOP, Las Cruces, NM

2900 North Telshor Boulevard, Las Cruces, NM

$1,895,000

Price

9%

Cap Rate

5,175 sqft

Building Size

Gallery
Street
Map
Overview
Cap Rate
9%
Building Size
5,175 sqft
Lease Type
Triple Net
Year Built
1994
Tenancy
Single
Description

Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 2900 North Telshor Boulevard in Las Cruces, New Mexico. The subject property is located off of Interstate 25 and Highway 70, in an area with a high density of hotels and National Credit Tenant retailers. IHOP currently has 14 years remaining on the lease with two, five-year options to exercise. This is an excellent opportunity to acquire a stable investment operated by a multi-unit franchisee. This location is currently part of a five-property portfolio. All five IHOP locations are for sale and can be purchased as a portfolio if desired. Contact brokers for more information.

Highlights
  • ±5,175 SF building on ±46,541 SF of fee simple land
  • Operated as an IHOP by a multi-unit franchisee
  • Located immediately off of Interstate 25 and Highway 70 (approx. 32,00 VPD)
  • In close proximity to a Holiday Inn, Motel 6, Marriot, and Hilton Hotel
Documents
Title
Offering Memorandum
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Location
Gallery