Jones Lang LaSalle (JLL) Net Lease Advisory is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant IHOP, strategically located at 600 Hwy 27 N in Sebring, Florida, in the heart of Central Florida. This property is leased to Sunshine Restaurant Partners, the largest IHOP franchisee with 150+ locations and exclusive rights to IHOP restaurants in Florida and 24 counties in Southern Georgia.
The property, located directly across the street from the Lakeshore Mall, is surrounded by nearly 50,000 people within a five-mile radius, earning an average household income of $67,000+. Interstate-98, also known as US Highway-27 is the main north-south thoroughfare in Sebring, FL. The highway extends as for south as Miami, and heads north through the capital of Tallahassee, crossing the Florida-Georgia state line. Sebring is most known for the Sebring International Raceway (created on a former airbase), which hosts international sports car races, such as “The Ferrari Challenge” and “Creventic 24H.” Other attractions for tourists and locals alike are the countless number of golf courses which pepper the city and county, that includes a PGA course called the Sun-n-Lake Golf Club, less than four-miles North of the subject property. Between the tourist who are staying in a nearby hotel and the local residents, the property provides fast and reliable food service to patrons on a daily basis.
· Triple net (NNN) lease with 2.5 years of initial term remaining, providing an investor with flexibility to reposition the property or add-value by negotiating a new lease
· IHOP has been operating at this location since 1994, and has exercised five option periods so far, showing a strong commitment to the site
· Largest IHOP franchisee with over 150 restaurants throughout Florida and Southern Georgia
· This location benefits from Annual Rent based on five percent of the Gross Annual Sales
· Positioned directly across the street and shares a traffic light with the 400,000 square-foot Lakeshore Mall on 73-acres
· The property benefits from 115+ feet of frontage on US-27 (39,000+ VPD)