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7-Eleven
Advance Auto Parts
Affordable Dentures
ALDI
Applebee's
Arby's
Ashley Furniture
AutoZone
Bank of America
BankUnited
BB&T Bank
Best Buy
BMO Harris Bank
Bojangles'
Burger King
Captain D's
Chase Bank
Chick-fil-A
Chipotle
Church's Chicken
Circle K
Cracker Barrel
CVS
Dairy Queen
DaVita
Dollar General
Dollar Tree
Dunkin' Donuts
Family Dollar
FedEx
Fred's Super Dollar
Fresenius Medical Care
Hardee's
Hobby Lobby
IHOP
KFC
Kohl's
Mattress Firm
McDonald's
Napa Auto Parts
O'Reilly Auto Parts
Panera Bread
PDQ
Pep Boys Auto
PNC Bank
Red Lobster
Rite Aid
Sheetz
Shell Oil
Sherwin-Williams
Starbucks
Steak 'n Shake
SunTrust
Taco Bell
TD Bank
Tractor Supply Co.
Verizon
Walgreens
Walmart
Wawa
Wegmans
Wendy's
Zaxby's
  IHOP


Average Property & Lease

Average Sale Price$2,752,984
CAP Rate (12mo avg with 10+ lease term)5.51%
NOI$155,285
$/Square Foot$611
Building Size4,000 - 5,100 sf
Lot Size0.7 - 1.6 acres
Lease Term20 - 25 Years
Escalations10-12% Every 5 Years
CREDIT RATING
N/A
S&P
N/A
Moody's
view credit rating chart
View Net Lease Property Listings at CALKAIN.COM Last Updated: September 9, 2016
Net Lease Advisor Overview

Pros

Cons

  • Leases call for increases, although amount and frequency vary
  • Generally decent sized parcel of land (prefer .8 acres to 1.5 acres)
  • Concept has been revitalized of late, creating a lot of new construction or complete remodels
  • Many sites are franchisee locations, with operator strength varying significantly
  • Restaurant industry has seen volatility in performance and sales lately
Tenant Description

IHOP, formerly known as The International House of Pancakes, is a United States based restaurant chain that specializes in breakfast foods. The chain is franchised and operated by Glendale, Calif. based International House of Pancakes, LLC and its affiliates. International House of Pancakes, LLC is a wholly-owned subsidiary of DineEquity, Inc. Over 99% of IHOP restaurants are run by independent franchisees. The chain has more than 1,500 restaurants in all 50 states, the District of Columbia, Canada, Mexico, Guatemala, Puerto Rico and the U.S. Virgin Islands. While IHOP's focus is on breakfast foods such as pancakes, French toast and omelettes, it also offers a menu of lunch and dinner items.

On November 29, 2007 the corporate entity IHOP changed its name to DineEquity on May 28, 2008 following the purchase of the bar-and-grill chain Applebee's International, Inc. Applebee's had 1,943 restaurants worldwide at the time, including those operated by franchisees.


IHOP TREND
CAP Rate

2014 avg: 6.44%

2015 avg: 6.27%

RECENT SALES

Fort Worth, TX

$2,100,000 | 7.03%

Buffalo Grove, IL

$2,562,000 | 7%

MORE INFO
www.ihop.com
Google Finance: DIN
Google News: DIN