8901 I-35 Frontage RdAustin, TX 78748
- Retail properties
- 4,127 SF
Property Details for 8901 I-35 Frontage Rd
- Year built
- 2004
- Lot size
- 0.83 AC
- Property size (Sq ft)
- 4,127 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
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.
Location Insight
- City
- Austin
- County
- Travis
- State
- Texas
- Latitude
- 30.1626
- Longitude
- -97.789
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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