For Sale
$2,750,000

8901 I-35 Frontage RdAustin, TX 78748

Austin IHOP, High-Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity features a 4,127 square foot IHOP restaurant in Austin, Texas, situated on a 0.83-acre lot at 8901 S I-35 Frontage Rd, zip code 78748. The property boasts a strong 6.70% cap rate, generating a net operating income (NOI) of $184,245. The property is a fee simple ownership with a single tenant, a franchisee of the IHOP brand, under a triple net (NNN) lease. The lease commenced January 31, 2004, and expires January 30, 2029, leaving approximately 5.5 years remaining. The initial lease term was 20 years, and the current annual rent includes scheduled 1.25% annual increases. Built in 2004, this established restaurant benefits from a prime location with high visibility and traffic on I-35. The asking price is $2,750,000, translating to a price per square foot of $666.34. The property is currently 100% occupied. This is a rare opportunity to acquire a well-established, high-performing restaurant investment in a desirable Texas market.

Highlights

  • 20-Year Initial Lease Term with 5.5 Years Remaining
  • 1.25% Annual Rent Increases
  • Three 5-Year Tenant Renewal Options
  • Excellent Tenant Performance History
  • 24/7 Access, Prime Location
  • Located in a Tax-Free State

Property Details for 8901 I-35 Frontage Rd

Property type
Retail properties, Restaurants
Square Feet
4,127 SF
Year Built
2004
Buildings
1
Lot Size (sq. ft)
36,155 SF

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.1625864
Longitude
-97.7889537
8901 I-35 Frontage Rd, Austin, Texas

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8901 I-35 Frontage Rd
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