Ihop - Corporate IHOP Ground lease at the entrance to power center 12128 S. US Highway 71, Grandview, MO 64030
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ihop
Corporate IHOP Ground lease
at the entrance to power center
12128 S. US Highway 71, Grandview, MO 64030
[ www.CapitalPacific.com ]
PROperty Summary Listing Team
Contact Info
very rare 30-year ground lease with 15 years remaining John Andreini
jandreini@capitalpacific.com | (415) 274-2715
CA BRE# 01440360
PRICE: $1,064,801
CAP: 5.00% In conjunction with MO Licensed Broker:
Patrick Willett, Pace Properties
Rentable SF. . . . . . . . . . . . . . . 4,100 SF pwillett@paceproperties.com | (314) 785-7631
Price per SF. . . . . . . . . . . . . . . $259.71 Capital Pacific collaborates. Click here to
land area . . . . . . . . . . . . . . . . 0.96 Acres meet the rest of our San Francisco team.
YEAR BUILT . . . . . . . . . . . . . . . . 2001
Current Rent. . . . . . . . . . . . . $12.99/SF
Lease Expiration. . . . . . . . . . 8/31/2031
IHOP | 2
core characteristics
EXCELLENT RETAIL LOCATION
Pad at the entrance to Truman’s Marketplace, a 395,000 square foot retail center with TJ
Maxx, Ross, Petco, Burlington Coat Factory, Payless, Five Below, Shoe Carnival, and many
others. Over 100,000 Residents within a 5-mile radius.
Billboard location - US Highway 71 visibility to over 74,000 vehicles per day National Tenant.
Kansas City MSA – Grandview, MO is technically in “South Kansas City” – 20 minutes from
downtown
3 points of ingress egress and ample parking
LEASE HIGHLIGHTS
1-mile population of 7,946, 3-mile population of 49,642, and 5-mile population of 106, 601
(all trending upwards in forecasted population) Very low annual rent of $53,140: rent comps indicate that IHOP and other
casual sit-down restaurants pay 3-4 times this rent
TENANT HIGHLIGHTS
Corporate lease
IHOP is owned by DineEquity. With more than 3,600 Applebee’s and IHOP restaurants in 18
countries, a 99%-franchised system of more than 350 franchisee partners, and approximately 15 years remaining on a 30-year primary term
200,000 team members (at franchised and company-operated restaurants), DineEquity is
10% rental increases every 5 years through out the base term and options
one of the largest full-service restaurant companies in the world.
Three 5-year options
IHOP has been ranked #1 for 7 years straight based on US system-wide sales – they currently
have over 1,650 restaurants.
Guarantor of the lease is IHOP Corporation
[ Truman’s marketplace rendering ]
IHOP | 3
aerial
ihop is located at the entrance to a 395,000 sf power center
E Blue Ridge Boulevard
58 150
E 171st Street
Belton EAGLE’S LANDING
TRUMAN’S MARKETPLACE
High School GOLF COURSE
Mill Creek
Upper
Elementary
Gladden
Elementary
Butcher-Greene
Elementary Conn-West
Elementary
®
49
71
49 74,995 DAILY 71
Belvidere
Elementary
RIVER OAKS
BELTON TOWNE CENTER GOLF COURSE
GRAND SUMMIT Grandview
GOLF COURSE High School
Meadowmere
Elementary Ingels
High Grove Elementary
Elementary
BELTON MARKETPLACE
Grandview
Middle School
49
Ray
150 tow
nR
SW Scherer Road
oad
W Foxwood
Drive
CREEKMOOR
Creekmoor GOLF COURSE
Elementary 49
KANSAS CITY
58
IHOP | 4
income & expense
PRICE $1,064,801
Price Per Square Foot: $259.71
Capitalization Rate: 5.00%
Total Rentable Area (SF): 4,100
Lot Size (AC): 0.96
STABILIZED INCOME Per Square Foot
Scheduled Rent $12.99 $53,240
Effective Gross Income $12.99 $53,240
LESS Per Square Foot
Taxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $53,240
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or im-
plied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
IHOP | 5
rent roll
TENANT INFO LEASE TERMS RENT SUMMARY
Monthly Yearly Monthly Yearly
Tenant Name Sq. Ft. Term Current Rent
Rent Rent Rent/FT Rent/FT
IHOP 4,100 08/14/01 08/31/06 $3,333.33 $39,999.96 $0.81 $9.76
09/01/06 08/31/11 $3,666.67 $44,000 $0.89 $10.73
09/01/11 08/31/16 $4,033.33 $48,400 $0.98 $11.80
09/01/16 08/31/21 $53,240 $4,436.67 $53,240 $1.08 $12.99
09/01/21 08/31/26 $4,880.33 $58,564 $1.19 $14.28
09/01/26 08/31/31 $5,368.37 $64,420 $1.31 $15.71
Option 1 09/01/31 08/31/36 $5,905.20 $70,862 $1.44 $17.28
Option 2 09/01/36 08/31/41 $6,495.72 $77,949 $1.58 $19.01
Option 3 09/01/41 08/31/46 $7,145.30 $85,744 $1.74 $20.91
Totals: 4,100 $53,240 $4,436.67 $53,240 $1.08 $12.99
*Seller shall credit the difference between the close of escrow rent and August 1, 2016 rent
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
IHOP | 6
site plan
TRUMAN’S MARKETPLACE
NOT A PART
Site Plan Key
Parcel outline:
Land Area: 0.96 acres
Building Area: 4,100 sf
Ingress/Egress:
POLE SIGN
71 49 Frontage Road 74,995 DAILY
IHOP | 7
tenant overview
[ Truman’s marketplace rendering ]
About ihop
For 57 years, the IHOP family restaurant chain has served its world famous
pancakes and a wide variety of breakfast, lunch, and dinner items that are Nyse
loved by people of all ages. IHOP offers its guests an affordable, everyday DIN
dining experience with warm and friendly service. The company is owned by 2014 AVERAGE VOLUME
DineEquit and 99% of the restaurants are run by independent franchisees. As $1.87 MILLION
of March 31, 2015, there were 1,650 IHOP restaurants in all 50 states and the
www.ihop.com NUMBER OF LOCATIONS
District of Columbia, as well as in Bahrain, Canada, Dubai (UAE), Guatemala,
Kuwait, Mexico, Puerto Rico, Saudi Arabia, The Philippines and the U.S. Virgin 1,650+
Islands.
IHOP | 8
surrounding retail
Area Retailers include T.J. Maxx,
Ross, Petco, Burlington coat
factory, CVS, & Applebee’s
IHOP | 9
location & demographics
About grandview, MO
Grandview is located in Jackson County, MO, just 20
minutes south of Kansas City along U.S. Highway 71.
Grandview is a diverse city with quiet neighborhoods, 74,995 DAILY
busy shopping districts, rolling hills, and the popular
Longview Lake.
Grandview is considered part of “South Kansas City,”
which consists of the southern half of Kansas City, as
well as the suburbs of Harrisonville, Belton, Loch Lloyd,
Martin City and Raymore.
Population kansas city
1-Mile 3-Mile 5-Mile
2010 7,638 49,211 104,793
2015 7,946 49,642 106,601
2020 8,212 50,310 108,694
2015 Household
1-Mile 3-Mile 5-Mile
Average $42,914 $53,090 $62,243
20 min
14 miles
Top Employers In kansas city msa
Employer # of Employees
Federal Government 30,000
Cerner Corp 10,128
HCA Midwest Health System 9,753
St. Luke’s Health System 7,550
Sprint Corp 6,300
grandview IHOP | 10A unique HUMAN
RESULTS-DRIVEN The capital pacific experience - our daily commitment to our clients
client experience [ www.CapitalPacific.com ]
Capital Pacific collaborates. Click here to
John Andreini In conjunction with MO Licensed Broker: meet the rest of our San Francisco team.
jandreini@capitalpacific.com | (415) 274-2715 Patrick Willett, Pace Properties
CA BRE# 01440360 pwillett@paceproperties.com | (314) 785-7631 chris kostanecki zeb ripple
chris peters joe caccamo
dave lucas gregg steele
zandy smith karla zens
jack navarra rick sanner
Bob sanner
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