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IHOP Restaurant 220 N Frontage Rd

4,950 SF Retail Building Meridian, MS 39301 £1,411,692 (£285/SF) 7.15% Net Initial Yield

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Investment Highlights

Long-Term Absolute NNN Lease – ±11 years remain on the lease and there are zero landlord responsibilities or expenses, providing 100% passive income.
Freeway Location – The property enjoys a highly strategic position directly off Hwy 20, a major thoroughfare with a daily traffic volume.
National Tenant – IHOP, a subsidiary of DineEquity, INC. is one of the largest casual dining restaurant chains in the world with over 1,750 locations.

Hotel Location – The IHOP is positioned in a prime area with more than 15 hotels within a 1-mile radius.
Strong Retail Corridor – The property is located across the street from the Uptown Meridian Mall and next to national retailers such as Wal-Mart.

Executive Summary

Broker of Record
Phillip Carpenter
License No. C-11708 (MS)
(866) 889-0550
Carpenter Properties, Inc.
1437 Old Square Road,
Suite 104 Jackson, MS 39211

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Restaurant

Building Size

4,950 SF

Building Class

Year Built

2015

Price

£1,411,692

Price Per SF

£285

Net Initial Yield

7.15%

NOI

£100,936

Tenancy

Single

Number of Floors

Building FAR

0.10

Land Acres

1.18 AC

Amenities

Wheelchair Accessible

Air Conditioning

PROPERTY TAXES

Parcel Number	084-17-1-0000-000-02402	Improvements Assessment	£0
Land Assessment	£0	Total Assessment	£130,168

PROPERTY TAXES

Parcel Number

084-17-1-0000-000-02402

Land Assessment

£0

Improvements Assessment

£0

Total Assessment

£130,168

Listing ID: 33317973
Date on Market: 26/09/2024
Last Updated:
Address: 220 N Frontage Rd, Meridian, MS 39301

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