IHOP | Abs. NNN Lease | 150+ Unit Operator |… — Sale in Tallahassee, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Tallahassee, FL 32301

Photos

IHOP | Abs. NNN Lease | 150+ Unit Operator |… — Sale in Tallahassee, FL, photo 1 of 2
IHOP | Abs. NNN Lease | 150+ Unit Operator |… — Sale in Tallahassee, FL, photo 2 of 2

Investment Figures

Cap rate
6.91%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively present for sale this absolute net-leased IHOP restaurant located at 2840 Apalachee Parkway in Tallahassee, Florida. Positioned along the highly trafficked Apalachee Parkway / U.S. Highway 27, the property benefits from its premier location along one of Tallahassee’s most active commercial corridors. The subject property features a 3,996-square-foot freestanding building and is situated on a 0.66-acre parcel with ample dedicated parking. Strategically positioned along Apalachee Parkway / U.S. Highway 27, one of Tallahassee’s primary commercial thoroughfares, the property benefits from exceptional exposure to over 39,000 vehicles per day. This corridor is characterized by a robust mix of national and regional retailers, strong consumer traffic, and direct access to the city’s densest employment and residential nodes. The surrounding trade area is home to a well-established collection of national brands including McDonald’s, Zaxby’s, Culver’s, Havertys, Bank of America, CVS, Target, and Kohl’s; confirming the corridor’s enduring strength as a high-frequency consumer destination. The subject property is situated within a uniquely stable and recession-resistant market anchored by Florida’s state government, higher education, and healthcare. Tallahassee serves as Florida’s capital city, with nearly 30 state agency headquarters making the State of Florida the largest employer in the metro. Florida State University enrolls over 42,000 students and employs more than 15,000 people, while Florida A&M University and related institutions bring total enrollment across the metro to over 65,000 students; generating consistent, year-round consumer demand. Tallahassee Memorial Healthcare, with nearly 6,000 employees, is the largest private-sector employer in the market, further anchoring household income stability and dining demand throughout the trade area. The 5-mile trade area supports a daytime population of 264,060 and a median house

Market Context

This food service in Tallahassee, FL is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Tallahassee, FL — view the full market.

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