A NET LEASED CASUAL DINING RESTAURANT

IHOPA NET LEASED CASUAL DINING RESTAURANT

SACRAMENTO, CA

IHOP

5.50%CAP

$1,552,000PRICE

4770 FLORIN ROAD, SACRAMENTO, CA 95823

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.

LEASABLE SF4,461 SF

TRAFFIC273,000+

LEASE TYPEABSOLUTE NNN

LAND AREA0.57 Acres

NOI$85,377

LEASE EXPIRATION12/11/2021

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Overview

Triple net lease with recent upgrades completed

Tenant spent over $175,000 over the last 12 months to remodel building

and property

Long Term Corporate Leased Store at location for over 20 years

Franchisee operates over 20 IHOPs in the Sacramento Region

Lease has just over three years remaining and no remaining options

Sustainable rent level with potential upside

Ideal location in Florin Square Shopping Center

Visible and accessible from Highway 99 (207,200 VPD)

Located between the major retail shopping centers in South Gate Plazaand Florin Mall Town Center

https://www.google.com/maps/place/4770+Florin+Rd,+Sacramento,+CA+95823/@38.4963651,-121.4556464,1171m/data=!3m1!1e3!4m5!3m4!1s0x809acf88e70e842b:0x8b074cd99226cae4!8m2!3d38.4957288!4d-121.4497889

THE OFFERING represents the opportunity for an investor to acquire an established and proven, net leased IHOP restaurant with three years remaining of primary term at a sustainable rent level with potential for long term rent growth. The lease is a long-term corporate lease that has been at the location since 1986.

The property is located at the ‘top five’ retail intersection of Highway 99 and Florin Road in the heart of a major retail trade area in Sacramento. The location benefits from on/off ramp access immediately off of Highway 99 with vehicle counts of 207,200 VPD. The property shares a parking lot with a new construction Dutch Bros Coffee building which attracts morning/breakfast traffic. Parking in the center is ample and shared.

DAVE [email protected]: 415.274.7390 CA DRE#: 01389761

Contact the team

IHOP HAS OVER 1,700 LOCATIONS IN ALL 50 U.S. STATES


SACRAMENTO is the capital city of California, as well as the the sixth-largest city in the state. The city hosts a population of over 500,000 and a metropolitan area of over 2,500,000. It is the most rapidly-growing major city in the state and a hub for politics, finances, education and tourism. Sacramento is home to several major universities, including Sacramento State University, University of the Pacific, and nearby University of California - Davis.

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Investment Highlights

Aerial

99

99

STOCKTO

N BO

ULEVARD

STOCKTO

N

BOU

LEVARD

FRANKLIN

BOU

LEVARD

FRAN

KLIN

BOU

LEVARD

FLORIN ROAD FLORIN ROAD

MIDDLE SCHOOL

HIGH SCHOOL

HIGH SCHOOL

ELEMENTARY SCHOOL

SACRAMENTO COUNTY

SACRAMENTO COUNTY

CALIFORNIA DMV

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

ELEMENTARY SCHOOL

®

182,700 VPD

28,583 VPD

56,296VPD

30,600 VPD

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Aerial

207,200VPD

SACRAMENTO CITY CENTER






FLORIN ROAD

10,420VPD

99

207,200 VPD

56,296VPD

EAST PARKWAY

Retail Aerial


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Retail Aerial


FLORIN ROAD10,420

VPD

EAST PARKWAY

56,296VPD

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Income & Expense

CURRENTPrice: $1,552,000Capitalization Rate: 5.50%Price Per Square Foot: $347.90Total Leased (SF): 100.00% 4,461

Total Vacant (SF): 0.00% 0Total Rentable Area (SF): 100.00% 4,461INCOME P/SFScheduled Rent $19.14 $85,377

EFFECTIVE GROSS INCOME $85,377

EXPENSES P/SFProperty Tax NNNInsurance NNNCommon Area Maintenance NNNNET OPERATING INCOME $85,377

11/26/2018 Capital Pacific Real Estate Brokerage Co.


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Income & Expense

Rent Roll

TENANT INFO LEASE TERMS RENT SUMMARY

TENANT SQ. FT PERCENT OF LOT TERM MONTHY RENT ANNUAL RENT RENT/FT/YR LEASE TYPE

IHOP 4,461 100.00% 12/12/1986 12/11/2021 $7,114.75 $85,377.00 $19.14 NNN

Corporate Lease No Remaining Options

Current Totals: 4,461 100.00%

Occupied 4,461 100.00% 2018 Total Monthly Rent: $7,114.75

Vacant 0 0.00% 2018 Total Annual Rent: $85,377.00


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BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

12/12/1986 - 12/11/2021 $7,114.75 $85,377.00No Remaining Options

RENT

TENANT International House of Pancakes, Inc.GUARANTOR CorporateBUILDING SF 4,461 SFLEASE TYPE Absolute NNNTERM 25 year base term with two 5-year optionsRENT COMMENCEMENT December 12, 1986EXPIRATION December 11, 2021

PREMISE& TERM


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Lease AbstractTENANT’S OBLIGATIONS Keep Leased premises in good condition and repair. LANDLORD’S OBLIGATIONSRepair common area subject to reimbursement.TAXESTenant shall pay its pro rata share of all taxes assessed against Premises, and personal property tax on demised premises.INSURANCETenant must have public liability insurance, fire insurance. Lessor must insure common area subject to reimbursement.UTILITIESTenant pays for all utilities on leased premises.CAMTenant pays pro rata share.

ASSIGNMENT/SUBLETTINGRequires written consent of landlord.EARLY TERMINATIONNone.RIGHT OF FIRST REFUSALLessor shall give to the lessee a notice in writing specifying terms of desire to sell property, and offer to sell it to lessee upon aforementioned terms. Tenant has 10 days to accept or reject. For 90 days thereafter, lessor is free to sell at agreed upon terms.

EXPENSES

LEASEPROVISIONS

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For 60 years, the IHOP family restaurant chain has served its world famous pancakes and a wide variety of breakfast, lunch, and dinner items that are loved by people of all ages. IHOP offers its guests an affordable, everyday dining experience with warm and friendly service.

As of December 2017, there were 1,786 IHOP restaurants in all 50 states and the 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 Islands. In 2017 alone, they added 50 restaurants. The company is owned by DineEquit and 99% of the restaurants are run by independent franchisees. DineEquit saw slaes of over $604.8 million in fiscal 2017.

ABOUT IHOP


$2.3 Million

LOCATIONS THROUGHOUT WESTERN U.S.

1,786

Tenant Overview

DINEEQUIT 2017 SALES

$604.8 Million

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Site Plan

EAST PARKWAY

CIRCLE PARKWAY

FLORIN ROAD

ON RAMP

99

NOT A PART

MARKET

RESTAURAN

TM

ISC.

56,296VPD

10,420VPD


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SignageSignage

SMOKE SHOPCLEANERSHAIR SALON

22’-0

”

5’-6

”5’

-6”

1’-9

”1’

-9”

11’-6”

12’-0”

SCALE: 1/4” = 1’

MAIN SIGN - FRONT ELEVATION

7134 Kingsley St. Sacramento, CA 95828P. 916.640.5676WWW.PANSIGNCO.COMCCL# 756432

Phase:

Conceptual

Design Development

Construction Drawing

Client Approval

X

Date: 4-24-18

Revision 1: 8-10-18

Revision 3:

Revision 4:

Drawn By: LP

ALL RIGHTS RESERVED:This is an original unpublishedpiece of artwork generated byPAN SIGN CO. It is not to beshown to anyone outside yourorganization, nor is to be used,reproduced, copied or exhibitedin any fashion without writtenauthorization from PAN SIGN CO.

Sheet No:

1.00

4750 Florin RoadSacramento, CA 95823

Project:

Address:

SIMULATED NIGHT VIEW

4750 Florin RdMonument Sign

3/16” THICK WHITE LEXAN FACES

ALUMINUM SIGN CABINET W/ TEXCOTE PAINTED DUNN- EDWARDS PRAIRIE LAND (DET489)

ALUMINUM CAP AND TRIM W/ TEXCOTE PAINTED DUNN-EDWARDDS ESPRESSO MACCHIATO (DET680)

1/2” THICK CLEAR ACRYLIC ADDRESS #’S W/ PAINTED WHITE, SATIN FINISH

ALUMINUM BASE W/ MASONARY STACKED STONE

TOTAL SQFT: 264

COLOR GUIDE

DUNN- EDWARDS PRAIRIE LAND (DET489)

DUNN-EDWARDDS ESPRESSO MACCHIATO (DET680)

INTERNATIONAL GROCERIESRED STAR

1’-8”

3’-1 1/2”

AMERICANFURNITURE

G A L L E R I E S

4750 - 4770

SMOKE SHOPCLEANERSHAIR SALON

INTERNATIONAL GROCERIESRED STAR

AMERICANFURNITURE

G A L L E R I E S

4750 - 4770

Revision 2: 8-31-18

2’-0”2'-0" 2'-0"

THIS PACKAGE IS CURRENTLY UNDER APPLICATION BY THE LANDLORD AND PROJECTED FOR INSTALLATION IN 2019. 12


POPULATION

1-MILE 3-MILES 5-MILES

2010 23,004 180,283 359,050

2018 24,750 192,133 382,996

2023 25,987 201,145 402,016

2018 HH INCOME

1-MILE 3-MILES 5-MILES

Average $51,021 $52,403 $72,907

Median $36,946 $39,793 $52,855

SACRAMENTO


Demographics

TOP EMPLOYERS IN SACRAMENTO VALLEY

EMPLOYER

State of California 69,469

Sacramento County 10,634

UC Davis Health System 9,985

Sutter Health SacramentoSierra Region 6,507

Intel Corp. 6,000

SACRAMENTO

THE AVERAGE HOUSEHOLD INCOME WITHIN A 5-MILE RADIUS

IS OVER $72K

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SACRAMENTO,CALIFORNIA

SACRAMENTO is the capital city of California, the sixth-largest city in the state, and the 35th largest city in the United States. The urban Sacramento area has a population of 1.44 million while the Sacramento Valley, which includes ten counties, has an estimated population of 2.66 million.

Sacramento is one of the most historic cities in California, boasting an impressive array of museums, landmarks, parks, amenities, and more. California State University, Sacramento, is located in downtown Sacramento and offers 151 Bachelor’s degrees, 69 Master’s degrees, 28 teaching credentials, and 2 Doctoral degrees. There are over 30,500 students enrolled annually.

The Sacramento Valley is located in the Central Valley, which is comprised of ten Northern California counties. Government and transportation are key sectors of the

economy. Technology-related companies such as Intel and Hewlett-Packard have increasingly been drawn to Sacramento based on proximity to research centers and a well-educated labor pool. Other economic drivers include health services, hospitality, education & construction.

SACRAMENTO ECONOMY

Location Overview


2.66 MILLION

SACRAMENTO VALLEY POPULATION (ESTIMATED)

SACRAMENTO, CA

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We’d love to hearfrom you.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:


DAVE [email protected]: 415.274.7390

CA BRE# 01389761

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER JACK NAVARRA

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JUSTIN SHARP

A NET LEASED CASUAL DINING RESTAURANT

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