International House Of Pancakes Property

Price: $1,975,000

Square feet: 2,775
Year built: 1971
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This is a real estate only purchase with a fantastic, stable true triple net long term lease in place.  Family owned since the building was purpose built in 1971 for IHOP, lease has been in place with the same franchise company since the beginning.  NOI is estimated to be about $100,000 for the year ending May 2012.  NOI was $93,512 for the year ending May 2011.  There are NO expenses to the property owner, just a $4000 check every month and once a year, a check to bring the annual payment up to 7.5% of the gross receipts.  The business is available separately,

Contact: Dawn Thornburgh