Phoenix, AZ 85021

IHOP - 25 Yr Sale-Leaseback

Property Address

2000 West Northern Avenue, Phoenix, AZ, USA

Offering Summary

  • Price: $4,375,000
  • Lot Size: 1.59 Acres
  • Cap Rate: 4.80%
  • Year Built: 2012
  • Building SF: 4,779
  • Status: In Escrow
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  • Brand New 25-Year Absolute Triple-Net (NNN) Lease
  • 429,706 Residents in Trade Area – Infill Phoenix
  • Adjacent to Sprouts Farmers Market-Anchored Shopping Center
  • Less Than 1 Mile Off the I-17 (147,200+ Cars per Day) – Major Connector for the Phoenix MSA
  • Tenant is One of the Largest Franchisee and Developers of IHOP Restaurants in the U.S. (107 Locations)
  • High Traffic Location, Visible to 66,120 Cars per Day
  • Close Proximity to National Retailers – Sprouts Farmers Market, Albertsons, LA Fitness and More
  • Strong Daytime Population – 473,170 Employees in 5-Mile Radius
  • Minutes to Christown Spectrum Mall (50+ Stores) – Major Tenants Include Target, Harkins Theatres, JCPenney, Walmart Supercenter and Costco
  • 15 Minutes North of Downtown Phoenix

Broker Information