January 17, 2020 – Matt Nadler and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of IHOP in Cocoa Beach, Florida. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,222,222, a cap rate of 5.40%.
The IHOP is located at 3830 North Atlantic Avenue in Cocoa Beach, FL. The stand-alone building consists of 2,640 square feet and sits on 0.46 acres of land. IHOP has 13+ years remaining on an absolute triple net (NNN) lease with six, 5-year options. The lease features 1% annual increases throughout both the current term and the option periods. IHOP is strategically positioned along North Atlantic Avenue (A1A) and is surrounded by national retailers including, Walgreens, Starbucks, McDonald’s and many more. The property has outstanding visibility, convenient access, and benefits from strong area demographics.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.