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IHOP | New 10-Yr Abs NNN 20014 153rd St 5,096 SF Retail Building Olathe, KS 66062 $1,938,400 ($380.38/SF) 6.50% Cap Rate
Investment Highlights
- Brand New 10-Year Absolute Triple-Net (NNN) Lease - Recent 2023 Renovation
- 7.5% Rental Increases Every 5 Years with Multiple Renewal Options
- U.S. News Ranked Olathe the Number One Best Place to Live in Kansas for 2026
- Low Rent Factor - Allowing for Future Upside Potential
- Growing Trade Area in the Kansas City MSA - 135,761 Residents within a 5-Mile Radius
- Immediate Proximity to Olathe Medical Center (300 Beds), Ranked in the Top 10 of Large Community Hospitals in the United States
Executive Summary
IHOP® competes in the Family Dining segment of the restaurant industry, and all IHOP restaurants are owned by independent franchise operators. For 65 years, the IHOP family restaurant chain has served its world famous pancakes and a wide variety of breakfast, lunch and dinner items that are loved by people of all ages. IHOP offers its guests an affordable, everyday dining experience with warm and friendly service.
Olathe is a city in, and the county seat of, Johnson County, Kansas. A suburb of Kansas City, it is the fourth-most populous city in both the Kansas City metro and the state of Kansas with an estimated population of 149,035.
Olathe is a city in, and the county seat of, Johnson County, Kansas. A suburb of Kansas City, it is the fourth-most populous city in both the Kansas City metro and the state of Kansas with an estimated population of 149,035.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,096 SF
Building Class
B
Year Built/Renovated
2007/2023
Price
$1,938,400
Price Per SF
$380.38
Cap Rate
6.50%
NOI
$126,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.41 AC
Zoning
CP-2 - Commercial
Frontage
286’ on 153rd St
Amenities
- Restaurant
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Pizza Shoppe
Property Taxes
| Parcel Number | DP13690000-0005 | Improvements Assessment | $196,480 |
| Land Assessment | $203,970 | Total Assessment | $400,450 |
Property Taxes
Parcel Number
DP13690000-0005
Land Assessment
$203,970
Improvements Assessment
$196,480
Total Assessment
$400,450
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IHOP | New 10-Yr Abs NNN | 20014 153rd St
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