4103 S Carrier Pky
Grand Prairie, TX 75052
IHOP · Retail Property For Sale

Marcus & Millichap is pleased to present the exclusive listing for an IHOP located at 4103 Carrier Parkway in Grand Prairie, Texas. The property consists of 4,800 square feet of building space and sits on 1.15 acres of land. This IHOP property is subject to a 25-year triple-net (NNN) lease, which commenced in 2003. The current rent is $220,938 and is subject to 10 percent rental escalations in March of 2018 and every five years thereafter. In addition to the primary term, the tenant has three, five-year tenant renewal options. The subject property is an IHOP restaurant located 4103 South Carrier Parkway, Grand Prairie, Texas. With its population at 181,303, Grand Prairie is the 15th largest city in Texas and in the top 150 nationwide. Conveniently located between Dallas and Fort Worth, the city's eastern boundary is 12 miles west of downtown Dallas and the western edge is 15 miles east of Fort Worth. Just five minutes south of DFW International Airport, the city enjoys easy access to Interstate 20, Interstate 30, State Highway 360, Loop 12 and Spur 303. Traffic counts are very high on South Carrier Parkway at 41,000 vehicles per day and even higher on Interstate-20, which experiences an average traffic count of roughly 190,000 vehicles. In addition, this property has access to a population of nearly 230,000 within five miles and more than 94,000 within three miles. The population in this area has grown by 46.45 percent since 2000 and is expected to grow by another 9.16 percent over the next five years.