IHOP - 24 Hour Location 2406 William St 5,030 SF Retail Building Cape Girardeau, MO 63703 $2,804,800 CAD ($557.61 CAD/SF) 7.25% Cap Rate

Current Real Estate Advisors is pleased to present the opportunity to acquire IHOP - Cape Girardeau (the "Property"), a freestanding, single-tenant ±5,030 SF building located on a 1.01 acre lot in Cape Girardeau, MO. The Property benefits from an Absolute NNN lease, imposing zero landlord responsibilities and delivering a fully passive income stream. This asset is part of a Portfolio (see Page 3 for details) and may be acquired separately or together.
This offering is structured as a Sale-Leaseback transaction, with a brand-new 10-year lease to be executed at closing, featuring 10% rental escalations every five years and 4, 5-year renewal options—reflecting the operator's long-term commitment to and confidence in this location.
The Tenant is a proven, multi-concept operator with an established track record across multiple brands and franchise systems. The Property is a strong performer, evidenced by healthy unit-level sales and a favorable Rent-to-Sales ratio—underscoring the durability and resilience of the underlying cash flow.
IHOP - Cape Girardeau represents a compelling opportunity to acquire income-producing real estate within established Midwest market, backed by a committed operator and underpinned by a stable, long-term passive income stream.