June 13, 2022 – Steve Schiavello, Patrick Gray, Zach Smith and Matt Nadler of Horvath & Tremblay have successfully completed the sale of a dark IHOP in Milwaukee, Wisconsin. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,900,000.
The IHOP is located at 8101 West Brown Deer Road in Milwaukee, Wisconsin (the “Property”). The building was constructed for IHOP in 2002, and the Absolute NNN lease currently has 5+ years of term remaining followed by three, 5-year renewal options. The lease features 10% rental increases every five years throughout the base term and renewal options. This location is currently dark; however, IHOP continues to pay rent and fulfill their obligations under the lease. IHOP is located in the retail corridor centered around the WI-100 (West Brown Deer Road) and WI-181 interchange, both major commuter thoroughfares in northern Milwaukee. More than 27,200 vehicles pass the property each day. The entire trade area is situated between Interstates 41 and 43 and also includes a number of major business and employers that drive additional traffic to the area. 8101 West Brown Deer Road is just 12 miles northwest of downtown Milwaukee.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.