IHop Restaurant 6101 N University Dr 2,475 SF Retail Building Fort Lauderdale, FL 33321 $2,487,300 ($1,004.97/SF) 6% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased IHOP property located within the Miami MSA in Tamarac, Florida. IHOP has a successful operating history at this location dating back multiple decades. The current lease runs through December 2035 and is absolute triple net, presenting zero landlord responsibilities. The lease contains 1% annual rental escalations throughout the primary term and six 5-year renewal options. This location is operated by Sunshine Restaurant Partners, one of the largest IHOP franchisees in the nation, with 150+ locations. Additionally, Florida is an income tax-free state.
The 2,475 square-foot property is strategically positioned along North University Drive (State Road 817), one of Broward County’s primary north-south arterials carrying approximately 53,000 vehicles per day and enjoys convenient access to West Commercial Boulevard (55,000 VPD) and West McNab Road (46,000 VPD). The site sits in immediate proximity to HCA Florida Woodmont Hospital (351 beds) and the Championship Golf Course, generating steady traffic and visibility. The property is also surrounded by several shopping centers occupied by national retailers including ALDI, Publix, Five Below, Ross, Burlington, Raising Cane’s, McDonald’s, Starbucks, and many others. There are 473,000+ residents within a five-mile radius, with average household income exceeding $89,000.
IHOP, short for International House of Pancakes, is an American multinational restaurant chain specializing in breakfast foods was founded on July 14, 1958. Headquartered in Glendale, California, it operates as a subsidiary of publicly traded Dine Brands Global, Inc. (NYSE: DIN), with approximately 99% of its nearly 1,800–1,840 locations (as of recent data from 2022–2023) run by independent franchisees across all 50 U.S. states, two U.S. territories, and 13 international countries. Renowned for its world-famous pancakes and a menu featuring breakfast, lunch, and dinner items served all day in a family-friendly atmosphere, IHOP has grown from a single A-frame restaurant into a widely recognized casual dining icon emphasizing affordable meals and warm service.