Historical Retail Sale Listing - IHOP Restaurant

Retail For Sale

This Retail property is Off-Market. Search below to find active commercial real estate for sale or lease.

Browse More Listings in Retail For Sale, Dearborn Heights, MI or Michigan

IHOP Restaurant

24140 Ford Road, Dearborn Heights, MI 48127

N/A

5,600 SF | Retail

  • Print

Property Photo

Retail Property - Off Market

Price:
N/A
Building Size:
5,600 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Commission Split:
1.5%
Cap Rate:
8.25%
Occupancy:
100%
Tenancy:
Single
Year Built:
2006
Lot Size:
13,929 SF
Listing ID
15952613
Last Updated
over 1 year ago

Highlights

  • New NNN Lease with 10% Rent Increases Every 5 Years
  • Excellent Location at the Intersection of Ford Road & State Hwy 24 - Traffic Counts of 47,500 Vehicles Per Day
  • The Tenant was Rated the #1 IHOP Franchisee in 2007
  • Almost Zero Area Competition - Only IHOP or Denny's in the City, Nearest Denny's is 8 Miles Away, Nearest IHOP is 5 Miles Away
  • IHOP's Parent Company, DineEquity, Inc., is the Largest Full Service Restaurant Company in the World
  • Located in Wayne County - the 11th Most Populous County in the Nation (Population of Approx. 2.1 Million)

Description

The subject property is a 5,600 square foot IHOP Restaurant located on a 13,929 square foot parcel. The property is leased to Trinity Restaurant Group, an IHOP franchisee, under a 16-year NNN lease with 10% rent increases every 5 years. Trinity Restaurant Group was rated the #1 IHOP franchisee in 2007 and currently operates 4 locations in Michigan with 5 area units planned in the near future. The unit has a strong sales history and steady year over year sales increases.

IHOP is a leader in the family dining segment of the restaurant industry with 21 consecutive quarters of same-store sales growth and annual franchise restaurant openings that significantly outpaces the competition.

The property is located at the intersection of State Highway 153 (Ford Road) and State Highway 24 in Dearborn Heights, Michigan. Dearborn Heights is located in the central part of Wayne County on the periphery of heavily populated areas of Detroit and Dearborn. Typically a "bedroom community," it is composed of pleasant and well-maintained residential areas. Dearborn Heights has access to Interstate 94 and 96 Freeways and is within a 15 minute drive of Detroit Metropolitan Wayne County Airport, bringing virtually any place in the region within easy travel. Wayne County is located in southeastern Michigan, encompassing approximately 623 square miles. It is made up of 33 cities, including the city of Detroit, 10 townships, one village and 41 public school districts. Its population of approximately 2.1 million makes it the most populous county in the State of Michigan and the eleventh most populous county in the Nation.

Map of 24140 Ford Road, Dearborn Heights, MI 48127 (Wayne County)

Research for 24140 Ford Road, Dearborn Heights, MI 48127 (Wayne County)

  • Demographics – Population, income & other demographics near 24140 Ford Road
  • Research Price – Recent sales of similar properties
  • Property Record Data – Historical listings, current tax, mortgage, owners & tenant info for this building

Similar Listings

2 Photos
Mirage Plaza
Mirage Plaza
  • Dearborn Heights, MI
  • $460,000
  • 5,300 SF Bldg
7 Photos
Van Born
Van Born
  • Dearborn Heights, MI
  • $200,000
  • 5,030 SF GLA