IHOP | 2529 S Canal St
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IHOP 2529 S Canal St
4,993 SF Retail Building Carlsbad, NM 88220 £2,031,622 (£407/SF) 9% Net Initial Yield
Investment Highlights
- ±4,993 SF building on ±39,000 SF of fee simple land
- Located within two (2) miles over 15 hotels, motels, and inns including a Fairfield Inn, Best Western, La Quinta Inn, Residence Inn Hotel & Hampton In
- Operated as an IHOP by a multi-unit franchisee
- Excellent location surrounded by synergistic national retailers such as: Walmart, Verizon, Subway, and Sally’s Beauty
Executive Summary
Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 2529 South Canal Street in Carlsbad, New Mexico. The subject property is located near the intersection of Highway 285 and Highway 62, in an area with a high density of hotels and inns. IHOP currently has 14 years remaining on the lease with two, five-year options to exercise. This is an excellent opportunity to acquire a stable investment operated by a multi-unit franchisee.
This location is currently part of a five-property portfolio. All five IHOP locations are for sale and can be purchased as a portfolio if desired. Contact brokers for more information.
This location is currently part of a five-property portfolio. All five IHOP locations are for sale and can be purchased as a portfolio if desired. Contact brokers for more information.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,993 SF
Building Class
B
Year Built
2011
Price
£2,031,622
Price Per SF
£407
Net Initial Yield
9%
NOI
£182,924
Tenancy
Single
Number of Floors
1
Building FAR
0.12
Land Acres
0.94 AC
Parking
60 Spaces (10 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 4-157-129-518-320 | Improvements Assessment | £160,475 |
| Land Assessment | £38,542 | Total Assessment | £199,017 |
PROPERTY TAXES
Parcel Number
4-157-129-518-320
Land Assessment
£38,542
Improvements Assessment
£160,475
Total Assessment
£199,017
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Christopher Maling -
David Maling -
Avison Young
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IHOP | 2529 S Canal St
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