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Published on: Thursday, October 31, 2024
Updated on: Thursday, October 31, 2024
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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  Prime IHOP Property with Long-Term Lease in Artesia

105 S 1st St, Artesia Artesia New Mexico , 88210
105 S 1st St, Artesia Artesia New Mexico , 88210  Avison Young
Listing ID: CL-New Mexico-12648 Restaurant /Retail

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 8.99
Net Operating Income: $93,500.00
Quick Glance
Listing ID: CL-New Mexico-12648
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: N/A
Year Build: 2013
Building Size: 4,010.00 SqFt
Lot Size: 27,500.00 SqFt.
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
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 105 South First Street in Artesia, New Mexico.
Complete Details
Year Build: 2013
Building Size: 4,010 SqFt.
No of Stories: 1
Total Lot Area: 27500 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?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 0%
Full Description
Avison Young is pleased to present the opportunity to acquire the single-tenant IHOP on fee simple land located at 105 South First Street in Artesia, New Mexico. The subject property is located at the intersection of Highway 82 and Highway 285, two main thoroughfares in New Mexico. 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
  • IHOP
  • Lease Type NNN
Property Highlights
  • ±4,010 SF building on ±27,500 SF of fee simple land
  • Operated as an IHOP by a multi-unit franchisee
  • 14 years remaining on lease, and two five-year options
  • Located at the intersection of two major thoroughfares in New Mexico
  • Excellent location with synergistic national retailers in the immediate trade area, such as: McDonald’s, Wells Fargo Bank, Sherman Williams Paint, Wendy’s, Sonic, O’Reilly Auto Parts, Ashley Furniture, Taco Bell, Burger King, and Subway
Listing Location
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