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2529 S Canal St 4,993 SF Retail Building Carlsbad, NM 88220 $4,025,236 CAD ($806.18 CAD/SF) 8% Cap Rate
Investment Highlights
- Zero landlord responsibilities.
- Contractual rent growth featuring ten percent rent bumps.
- Same franchisee operator since 2011.
- Over twelve years of firm lease term remaining.
- Personally guaranteed lease.
- Traffic counts of 27,538 vehicles per day at the site.
Executive Summary
IHOP® - Absolute NNN investment opportunity with over 12 years of firm term, 10% rent bumps in 2028 & 2033, and zero landlord responsibilities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,993 SF
Building Class
B
Year Built
2011
Price
$4,025,236 CAD
Price Per SF
$806.18 CAD
Cap Rate
8%
NOI
$322,019 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.94 AC
Parking
60 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Signage
- Skylights
- Wheelchair Accessible
- Awning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4-157-129-518-320 | Improvements Assessment | $373,952 CAD |
| Land Assessment | $67,849 CAD | Total Assessment | $441,801 CAD |
Property Taxes
Parcel Number
4-157-129-518-320
Land Assessment
$67,849 CAD
Improvements Assessment
$373,952 CAD
Total Assessment
$441,801 CAD
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2529 S Canal St
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