27240 Bay Landing Dr, Bonita Springs, FL 34135

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Building Details:

• Year Built: 2000

27240 Bay Landing Dr is located in Bonita Springs, FL.

Sales-Lease Back IHOP Restaurant. Offering includes Real Estate only, Business and FF&E is not included. All tours of the property by appointment only and please do not disturb the employees. Free standing 4,000+/- SFT, built in 2000 with great US41 exposure and 56 parking spaces. Owner, a private investor/operator, who does not own other IHOPs, has been operating this successful business at this location since 2002. Located at SE quadrant of US41 and West Terry Street in Bay Landing shopping center with The Fresh Market, Home Goods, Outback Steakhouse, Carrabba’s & Starbucks anchor stores. Great investment, generating $130,000 NOI rent at 6.5% Cap Rate, 10 Yr Lease with 3% escalation staring on 6th year with two 5 years options to renew. Building is at excellent condition. It was remodeled in August 2015 and the roof was resurfaced then.
International House of Pancakes® was established in 1958 when it opened its doors in the suburbs of Los Angeles. Fifteen years later, a new marketing campaign introduced the acronym "IHOP". As of 2015, there were 1,650 IHOP restaurants in 50 states and the District of Columbia, as well as other countries.