Single Tenant NNN IHOP in Los Lunas, NM

1580 Main Street Northwest, Los Lunas, NM

$1,525,000

Price

9%

Cap Rate

$137,500

NOI

Gallery
Street
Map
Overview
Cap Rate
9%
NOI
$137,500
Building Size
4,010 sqft
Occupancy
100%
Class
B
Lease Type
Triple Net
Year Built
2014
Tenancy
Single
Description

Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 1580 Main Street in Los Lunas, New Mexico. The subject property is located in a popular shopping center off of Interstate 25 and Highway 6, 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.

Highlights
  • ±4,010 SF building on ±42,732 SF of fee simple land
  • Operated as an IHOP by a multi-unit franchisee
  • 14 years remaining on lease, and two five-year options
  • Outparcel to a Home Depot & Lowes anchored power center
  • Situated on heavily trafficked Main Street/Highway 6 (21,760 VPD)
Documents
Title
Offering Memorandum
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Location
Gallery