Once known as the International House of Pancakes, IHOP is a long-standing chain serving an assortment of pancakes & other American dishes. IHOP offers pancakes, crepes, waffles, eggs and a wide variety of breakfast and brunch dishes.
Lowest Cap Rate
Lowest cap rate over past 24 months
Average Cap Rate
12 mo avg with 5+ yr lease term
Average Property & Lease
|Average Sale Price||$2,250,000 - $2,750,000|
|Average NOI||$125,000 - $165,000|
|Building SF||4,500 - 5,000|
|Lease Term||20 - 25 Years|
The International House of Pancakes, LLC started in Glendale, CA, and is still operates as a franchise. Although the parent company is known as DineEquity, Inc., nearly every ‘IHOP’ is run independently by franchisees.
In 2008, IHOP changed its name to DineEquity after the acquisition of Applebee’s restaurant chain, and expanding its conglomerate into a new phase of market growth. With over fifteen hundred properties throughout the United States, Washington D.C., as well as internationally, IHOP continues their sole focus on serving truly delicious breakfast and brunch selections. Everything from pancakes and specialty omelettes, to French toast and brunch selections can be found on their menus.
- Larger size lots from 4/5 to 1 1/2 acres
- Leasing rent increases are common, but not always standard
- Reinvigoration of conceptual models, leading to upgrades
- Volatile restaurant industry may see fluctuations in sales
- Majority are franchisee, variable risk with operators
COMPANY QUICK STATS
|Number of Locations||1,841|
|Key Principal||Steve Joyce|