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SVN | INTERSTATE BROKERS | 3300 HOLCOMB BRIDGE RD, STE 240, PEACHTREE CORNERS, GA 30092 SALE BROCHURE
IHOP 10+ YR NNN7% CAP ATLANTA2510 FLAT SHOALS ROADATLANTA, GA 30349
Matthew Levin, CCIMSenior Advisor770.209.1700 [email protected]
OFFERING SUMMARY
Sale Price: $3,422,000
Cap Rate: 7.0%
NOI: $239,580 9/1/18
Lot Size: 1.27 Acres
Building Size: 4,131 SF
Year Built: 2008
Zoning: C-1 commercial
Out Parcel: Yes
Sperry Van Ness is pleased to present an absolute net leased IHOP with over 10 years of remaining term located in Atlanta, Georgia.The 4,131 SF restaurant on 1.27 acres was completed in 2008 as an out parcel to a Walmart Super Center. The original lease was for20 years NNN. The next scheduled rent increases are 10% on September 1, 2018 and 8.26% on September 1, 2023. The lease isindividually guaranteed by the operating franchisee.
National retailers create a robust trade area and include Walmart, Ross Dress For Less, Burlington, Marshall's and LA Fitness. AcrossFlat Shoals Road from IHOP is a Kroger grocer anchored shopping center. The location is a heavily trafficked intersection with45,000+ vehicles per day (VPD) on Old National Highway and 11,000 VPD on Flat Shoals Road. Recently a $4.3M sidewalk project wascompleted to improving walkability in the area.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• NNN 10+ years of remaining term
• 10% rent escalation on Sept 2018 & 8.26% on Sept 2023
• Walmart out parcel
• Heavily retailed area
Property Summary
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 2All SVN® offices are independently owned and operated.
RENT ROLL
RENT ROLL - International House of Pancakes No. 2061
Tenant Sq Ft Term Rent Period Annual Rent Monthly $ Sq Ft Notes Franchisee: Eggs-Cellence, LLC
4,131 9/1/2008-9/1/2028 9/1/2008-8/31/2016 $198,000 $16,500
$47.93 1st lease amendment
9/1/2016-8/31/2018 $217,800 $18,150
$52.72 “ “
9/1/2018-8/31/2023 $239,580 $19,965
$57.99 Original lease
9/1/2023-9/1/2028 $259,386 $21,615.50
$63.89 Original lease
Guarantor: Franchisees Karen Davis and Oscar E. Monzon. Renewal Option: None.
Expenses: Triple net lease with no landlord responsibilities.
Taxes: 100% by tenant lease paragraph 6.b.
Utilities: 100% by tenant lease paragraph 6.d.
Repairs: 100% tenant lease paragraph 7.
Insurance: 100% by tenant lease paragraph 12.
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 3All SVN® offices are independently owned and operated.
Additional Photos
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 4All SVN® offices are independently owned and operated.
Additional Photos
IHOP & AREA RETAILERS
SUBJECT
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 5All SVN® offices are independently owned and operated.
Location Maps
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 6All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 8,953 82,566 237,991
Median age 36.4 36.1 34.8
Median age (male) 33.8 34.1 33.8
Median age (Female) 39.4 37.8 35.6
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 3,497 32,820 98,085
# of persons per HH 2.6 2.5 2.4
Average HH income $48,615 $59,272 $69,738
Average house value $214,866 $251,995 $293,227
* Demographic data derived from 2010 US Census
Demographics Map
3300 Holcomb Bridge Rd, Ste 240Peachtree Corners, GA 30092T 770.209.1700 x3C [email protected] #119351
PROFESSIONAL BACKGROUND
Matthew J. Levin, CCIM, serves as a Senior Advisor for Sperry Van Ness, focusing on the sale and leasing of retail, officeand industrial properties. With over 20 years experience in the real estate industry, he has completed over 500transactions valued at $250 million.
Levin is a multi-year recipient of the Partner Circle Award, Sperry Van Ness' highest recognition, and consistentlyperforms in the top ten percent of advisors nationally.
Prior to joining Sperry Van Ness, Levin served as President of Dekalb Realty Company. Previously, he served as a $250million Commercial Real Estate Non-Performing Loan Portfolio Manager for the Federal Deposit Insurance Corporation(FDIC).
Levin is a life million dollar club member of the Atlanta Commercial Board of Realtors. He is past chairman of theScholarship Committee of the Georgia Chapter of CCIM and past president of the Georgia State University, Real EstateAlumni Group.
He received his Bachelor of Arts from Emory University and Master of Science degree in Real Estate from Georgia StateUniversity.
MATTHEW LEVIN, CCIM
Senior Advisor
IHOP 10+ YR NNN 7% CAP ATLANTA GA | 2510 FLAT SHOALS ROAD ATLANTA, GA 30349 SVN | Interstate Brokers | Page 7All SVN® offices are independently owned and operated.
Advisor Bio & Contact
