Published on: Monday, November 4, 2024
Updated on: Monday, November 4, 2024
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About the Lister
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Name: Chris Maling
Company: Avison Young
Office Phone: +1 213.618.3824
Cell Phone: +1 213.364.7222
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  Spectacular single-tenant IHOP in Carlsbad, New Mexico.
2529 S Canal St Carlsbad New Mexico , 88220
2529 S Canal St Carlsbad New Mexico , 88220  Avison Young
Listing ID: CL-New Mexico-12684

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 9
Net Operating Income: $233,200.00
Commission Split (%): 0
Quick Glance
Listing ID: CL-New Mexico-12684
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 100%
Year Build: 2011
Building Size: 4,993.00 SqFt
Lot Size: 4,993.00 SqFt.
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: Yes
Property On Ground Lease: No
Building Status: Existing
Listing 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.
Complete Details
Year Build: 2011
Building Size: 4,993 SqFt.
No of Stories: 1
Total Lot Area: 4993 SqFt.
No of Parking: N/A
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
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.
Additional Properties
Property Tenants
  • 14 years remaining on lease, and two five-year options
  • Lease Type NNN
Property Highlights
  • Operated as an IHOP by a multi-unit franchisee
  • Located within two (2) miles over 15 hotels, motels, and inns including a Fairfield Inn, Best Western, La Quinta Inn, Residence Inn Hotel & Hampton Inn
  • Excellent location surrounded by synergistic national retailers such as: Walmart, Verizon, Subway, and Sally’s Beauty
Features
  • ±4,993 SF building on ±39,000 SF of fee simple land
Listing Location
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