IHOP | Large TX Operator | Abs NNN Lease

Highlights:

• Absolute Net Lease - No Landlord Responsibilities
• 10% rental increases every 5 years
• IHOP corporate recently hand-picked operator to debut IHOP/Applebee’s dual concept
• Long-term lease with multiple renewal options to extend lease term and historical occupancy
• Large 1.22 acre parcel
• Tenant: globally-recognized IHOP brand / DINE brands (NYSE: DIN)
• Adjacent to Walmart Supercenter-anchored center
• Surrounded by strong traffic drivers including top-ranked Whataburger, high-traffic H-E-B (2.1m annual visitors), Christus Spohn Hospital, Alice High School (1,300+ students), and Alice Country Club
• Famous King Ranch: 20 miles south of subject property
• Naval Air Station Kingsville: 23 miles south of subject property
• NALF Orange Grove Airport (U.S. Naval Airfield): 15 miles north of subject property

Description:

Texas Broker of Record... BRUCE FRANKEL ... TREC RE License: 9000477

Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in an Absolute NNN-leased, 1.22-acre IHOP investment property in Texas. The absolute net lease structure ensures zero landlord responsibilities, with 10% rental increases every five years providing a natural hedge against inflation and boosting return on investment. The lease is backed by a rare personal guaranty from a legacy IHOP operator, which ensures lasting income security. The IHOP operator at this location is a seasoned multi-unit franchisee with over 30 years of success and 37+ restaurant locations across Texas. Nearby community drivers include King Ranch, Naval Air Station Kingsville, and NALF Orange Grove.

Alice serves as the county seat of Jim Wells County in South Texas, under 50 miles from the Gulf of Mexico. Situated at the crossroads of highways US 281, state 44, and state 359, Alice has a convenient, central location. Established in 1888, Alice is named after Alice, the daughter of rancher Richard King. Alice has a population of 19,010 and Jim Wells County is home to 39,786. Alice’s median household income is just under $35,000. Alice is a hub for oil drilling and production, and transportation, with several oil and trucking companies based in Alice, giving it its nickname “The Hub City of South Texas.”

Corpus Christi, TX
Corpus Christi, translating as “Body of Christ” from Latin, is the county seat and largest city of Nueces County, sitting on the Gulf of Mexico. Corpus Christi also extends into Aransas, Kleberg, and San Patricio Counties. With a population of over 325,000, Corpus Christi is the eighth largest city in Texas and the largest city on the coast. In addition, the port is the sixth busiest port in the country. Two of the most popular attractions in Corpus Christi are the Texas State Aquarium and the USS Lexington, a retired air craft carrier converted into a floating museum. Featuring 192 square miles of shoreline, Corpus Christi has a multitude of beaches to explore.