Single Tenant IHOP For Sale
$1,040
105 South 1st Street, Artesia, NM 88210
For Sale
Retail
Active
Last Updated: 12/10/2024
9
Cap Rate
4,010 sqft
Building Size
Details:
Cap Rate: 9%
Building Size: 4,010 sqft
Year Built: 2013
Highlights:
- ±4,010 SF building on ±27,500 SF of fee simple land
- Operated as an IHOP by a multi-unit franchisee
- 14 years remaining on lease, and two five-year options
- Located at the intersection of two major thoroughfares in New Mexico
Description:
Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 105 South First Street in Artesia, New Mexico. The subject property is located at the intersection of Highway 82 and Highway 285, two main thoroughfares in New Mexico. 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.
Location
Gallery
