8800 20th St
Vero Beach, FL 32966
IHOP Restaurant · Retail Property For Sale

Tiktin Real Estate Investment Services is pleased to present IHOP Restaurant located at 8800 20th Street, Vero Beach, Florida. This property consists of a 4,950-square-foot IHOP Restaurant built in 1975 and situated on 1.44 Acres. At the close of escrow, seller will sign a 10 year Triple Net lease. The lease will provide for zero landlord responsibilities, 10 percent increases every 5 years and six (6), 5 year options. Annual rent will be set at $90,000. In addition, the Hotel Reception (within the IHOP building) will sign a 10 year Lease of $6,000 a year with 10% increases every 5 years. This property offers direct frontage, signage and access along State Road 60, which experiences traffic counts in excess of 26,776 vehicles per day. Additionally, this IHOP Restaurant is located just .6 miles from Interstate 95 (I-95) and is an outparcel to a 130 +/- Room Motel operated by Wyndham Hotels. Vero Beach consists of 13.1 square miles and is located about 190 miles south of Jacksonville and 135 miles north of Miami on Florida's east coast. The City's population is currently estimated at 15,220, but approximately 79,468 within 5 miles of the city. Like other Florida Town's, there was significant growth and retraction during the Florida Boom and Bust era. During World War II the United States Military established a Naval Air station North - West of the original town and performed many training exercises off the coast. In 1947, the Brooklyn Dodgers selected the former Vero Beach Naval Air Station as their permanent Spring Training facility. Today, part of the property is occupied by the Vero Beach Municipal Airport and the Historic Dodgertown, formerly known as "Dodgertown".