IHOP Restaurant 60 Hampton St 5,008 SF Retail Building Morris, IL 60450 $1,011,499 ($201.98/SF) 7.27% Cap Rate

This offering presents an absolute NNN investment opportunity in a freestanding IHOP restaurant located at 60 Hampton Road in Morris, Illinois. The property is subject to a long-term lease with zero landlord responsibilities, providing a stable and predictable income stream for investors.
Situated on a 0.75-acre parcel, the building encompasses 5,008 square feet and has been operating under a 10-year net lease that commenced in 2021, featuring 10 percent rental increase November 2026 to a pro-Forma Cap Rate of 8.00% and 10 percent every five years during the option periods. The site has approximately 5.5 years remaining on the initial term, with four additional 5-year options to extend, ensuring long-term occupancy security.
Its location offers excellent connectivity, positioned just 0.32 miles from Interstate 80, which sees traffic counts of approximately 37,000 vehicles per day. The surrounding trade area features a strong retail presence and significant demand drivers, including major retailers such as Walmart, Menards, and Aldi, as well as several hotels. Notably, a Costco distribution center employing over 400 individuals is directly behind the property, creating a consistent flow of activity to the area.
This investment combines a high-visibility location, established franchise operator, and attractive financial structure, presenting an opportunity for investors seeking dependable cash flow in a growing metropolitan corridor.