For Sale
$3,434,643

3101 Oakland Park BlvdFort Lauderdale, FL 33311

High-traffic IHOP, strong lease, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a 2,888 square foot IHOP restaurant located at 3101 W Oakland Park Blvd, Fort Lauderdale, FL 33311. The property sits on a 22,111 square foot lot in a high-traffic area, boasting a daily vehicle count exceeding 107,000 vehicles. This single-tenant, absolute NNN lease with the largest IHOP franchisee (over 150 restaurants in Florida and Southern Georgia) offers significant stability and predictable income. The lease commenced January 24, 1972, and currently has approximately 2.2 years remaining, with two 5-year options. The property features a 5.00% cap rate and a Net Operating Income (NOI) of $171,732. Built in 1972 and renovated in 2022, the building is situated in a B-2 General Business zone. The asking price is $3,434,643, translating to $1,189.28 per square foot. The property's prime location within a major retail corridor, surrounded by national retailers and new housing developments, ensures continued strong performance. This offering is ideal for 1031 exchange buyers seeking a secure, high-performing asset in a thriving market. The lease includes a fixed base monthly rent, supplemented by a percentage rent equal to 8% of gross annual sales, paid bi-annually. This is a rare opportunity to acquire a well-established, high-performing IHOP in a prime Fort Lauderdale location.

Highlights

  • High-traffic location with over 107,000 vehicles daily at a signalized intersection.
  • Leased to the largest IHOP franchisee in Florida and Southern Georgia (150+ restaurants).
  • 50-year operational history at this location demonstrates strong tenant commitment.
  • Absolute NNN lease with recent extension.
  • 8% rent-to-sales ratio.

Property Details for 3101 Oakland Park Blvd

Property type
Retail properties, Restaurants
Square Feet
2,888 SF
Year Built/Renovated
1972/2022
Buildings
1
Stories
1
Units
1

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.1655997
Longitude
-80.1876155
3101 Oakland Park Blvd, Fort Lauderdale, Florida

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3101 Oakland Park Blvd
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