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Jones Lang LaSalle (JLL) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant IHOP, strategically located at 1345 Lee Road in Orlando, Florida, in the heart of Central Florida. This property is leased to Sunshine Restaurant Partners, the largest IHOP franchisee with 150+ locations and exclusive rights to IHOP restaurants in Florida and 24 counties in Southern Georgia.
The subject parcel sits on a large 0.82-acre parcel with a 4,623 square feet building and plenty of parking. Orlando has become a highly sought-after market for quality net-leased assets like the subject IHOP. It benefits from strong traffic counts and easy access to five strong north-south thoroughfares through the middle of Central Florida. The combination of a strong tenant and location make this an ideal net leased opportunity for investors.
· Triple net (NNN) lease with one year of initial term remaining (plus one, five-year option), providing an investor with flexibility to reposition the property or add-value by negotiating a new lease
· IHOP has been operating at this location since 1996, and has exercised four option periods so far, showing a strong commitment to the site
· Largest IHOP franchisee with over 150 restaurants throughout Florida and Southern Georgia
· This location benefits from Annual Rent based on six percent of the Gross Annual Sales
· Three points of ingress/egress – one on Lee Rd and two on Goddard Ave – and a dedicated left turn lane from Lee Rd to Goddard, providing easy access to the property from all directions