IHOP

IHOP

IHOP
4369 Tamiami Trail South
Venice, FL, 34293

$3,536,478

Cap Rate 5.85%
Gross Leasable Area (GLA) 4,985 Sq.Ft.
Price Per Square Foot (GLA) $754
Year Built 1998/2008
Lot Size 0.75 Acres
  • Located at a Signalized Intersection on South Tamiami Trail, the Major Business Artery in Venice
  • Corner Outparcel to Venice Village Shoppes and Target
  • Operated by the Nation's Second Largest Franchisee, Sunshine Restaurant Partners
  • Franchisee Operates Over 150 Units with a Goal of 250 Units
  • Strategically Located Between Several New Assisted Living Facilities
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: IHOP (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to present for sale this absolute-net leased, fee-simple IHop which is operated by Sunshine Restaurant Partners, Inc, a franchisee of seven national restaurant brands with over 150 locations in Florida and Georgia and looking to expand to 250 locations.

This well-located IHop is on the corner of Woodmere Park Boulevard and South Tamiami Trail, a major intersection in Venice. It is an outparcel to a Target anchored shopping center, with Dollar Tree and Staples other major tenants in the center. Adjacent outparcels include Wendy’s, Chili’s Bar & Grill, McDonalds, Wells Fargo and Applebee’s. There is a Publix anchored shopping center in close proximity, along with many other major retailers close by.

Tamiami Trail is the main thoroughfare in Venice with an average daily traffic count of over 28,500 cars per day. Also known as US 41, Tamiami Trail provides an alternate route to interstate 75 while providing access to countless retailers, planned developments and golf courses.

Venice is a principal city of the Bradenton-Sarasota-Venice, Florida MSA, which has a population of 720,000+. With a convenient location in southwest Florida, Venice was voted as a top 10 Happiest Seaside Towns by Coastal Living. The city provides locals with access to stunning beaches and world-class golf courses, which also makes it an attractive “snowbird” destination for northern residents looking to spend a few months out of the year away from cold, harsh winters.

This is an excellent opportunity to acquire a strategically located passive, absolute net leased investment that benefits from Florida’s No State Income Tax.

 

For More Information, Please Contact:

Jim Shiebler

Associate
(239) 340-7811
Jim.Shiebler@MarcusMillichap.com