IHOP
Artesia, New Mexico
Building
Stats
- Property Type Retail - Street Retail
- Year Built 2013
- Building Size (SF) 4,010
- Land Area (SF) 27,500
- Price $1,040,000
Overview
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 occupied by a reputable national tenant. 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.
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
