IHOP - 24 Hour Location 2607 Blue Heron Dr 5,000 SF 100% Leased Retail Building Marion, IL 62959 $2,810,600 CAD ($562.12 CAD/SF) 7.25% Cap Rate

Current Real Estate Advisors is pleased to present the opportunity to acquire IHOP - Marion (the "Property"), a freestanding, single-tenant ±5,000 SF building located on a 1 acre lot in Marion, IL. 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 – Marion 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.