Jones Lang LaSalle (JLL) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant IHOP and a single tenant Gift Shop, strategically located at 6065 W Irlo Bronson Memorial Highway in Kissimmee, Florida, in the heart of Central Florida’s highly sought-after Tourist Corridor, and surrounded by over $3 Billion in planned and approved developments, including Jimmy Buffet’s Margaritaville Resort and Vacation Homes, countless and continually updating of Disney theme parks, and Magic Development’s Magic Village and Magic Place.
The property’s trade area is trophy real estate within one of the nation’s top hospitality and retail corridors. With more than 35,000 hotel rooms in a 3-mile radius, countless national and regional restaurant chains and retailers, and a number of new residential developments, the property is well-positioned to continue its operating history as a top performing location.
- Long-term, triple net (NNN) lease with more than 6 years of initial term remaining, providing a stable investment outlook
- IHOP has been operating at this location since 1986 and signed a new 20-year lease in 2007, showing a strong commitment to the site
- Historical sales at this location are over $3,000,000 annually, making it a strong and above-average performing store
- There is a significant 25% increase to the annual base rent in less than two years (June 2022), offering a strong blended return on a cap rate basis
- Largest IHOP franchisee with over 150 restaurants throughout Florida and Southern Georgia
- This location benefits from Annual Rent based on six percent of the Gross Annual Sales, as well as a strong base rent, which protects from any “off” years in sales
- The Gift Shop provides additional draw of customer traffic and stability to the investment with an additional value-add opportunity by replacing the tenant in the future