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IHOP NNN Lease Investment Opportunity

4001 Wabash Ave, Springfield, IL

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For Sale

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NNN leased IHOP with established sales and rental increases.

Type:RETAIL

Property size:

5,100 SF

Lot size:

1.17 Acres

Price / SF:

$560/SF

HighLights

16 Years Remaining on an Absolute Triple‑Net (NNN) Lease with a Top IHOP Franchisee
10 Percent Rental Increases Every Five Years with Multiple Renewal Options
Established Location - Store Sales Exceed IHOP’s Average Unit Level Performance
120+ Location Operator/Guarantor
Average Household Income Exceeds $144,000 in the Immediate Area
75,124 Residents and 110,094 Daytime Population within a 5‑Mile Radius

We can help!

Listing Contact

Mark Ruble

For Sale

Contact for pricing

NNN leased IHOP with established sales and rental increases.

Type:RETAIL

Property size:

5,100 SF

Lot size:

1.17 Acres

Price / SF:

$560/SF

Added:: Oct 10, 2025
Days on Market:: 246
Last Refresh:: May 20 at 9:08 pm

Property Features for 4001 Wabash Ave

General Information

Standard status: Active
Size: 5,100 SF
Lot size: 1.17 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Mark Ruble

Listing agent Mark Ruble License #(S):AZ:SA550593000,NV:S.0192964

Listing office Marcus & Millichap | Phoenix

Listing date Oct 10, 2025

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Phoenix

HighLights

16 Years Remaining on an Absolute Triple‑Net (NNN) Lease with a Top IHOP Franchisee
10 Percent Rental Increases Every Five Years with Multiple Renewal Options
Established Location - Store Sales Exceed IHOP’s Average Unit Level Performance
120+ Location Operator/Guarantor
Average Household Income Exceeds $144,000 in the Immediate Area
75,124 Residents and 110,094 Daytime Population within a 5‑Mile Radius

Overview

This property is an IHOP restaurant with an absolute triple-net (NNN) lease. The lease has 16 years remaining with a top IHOP franchisee operating and guaranteeing the lease, with over 120 locations. Rental increases of 10 percent occur every five years, and the lease includes multiple renewal options. The location is established, with store sales exceeding IHOP’s average unit level performance. The surrounding area has a population of 75,124 residents and a daytime population of 110,094 within a 5-mile radius. Situated on a signalized hard corner, the property is easily accessible, with traffic exceeding 17,000 cars per day. The average household income in the immediate area exceeds $144,000. The property is a 5,100 square foot building located at 4001 Wabash Ave, Springfield, IL.

Property Profile Location Intelligence

Current Use by Public Records

NASCAR Refuel Tenders ... Restaurant TenderFix by Noah ... Restaurant IHOP Restaurant

Suggested Use

Location Insight

Map
Local Demand

City: Springfield
County: Sangamon
State: Illinois
Longitude: -89.7241
Latitude: 39.7566

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What type of property is this?

Breakfast & diner - NNN leased IHOP with established sales and rental increases.

Where is this breakfast & diner located?

The property is located at 4001 Wabash Ave Springfield, IL.

What is the asking price?

The asking price for this property is $2,860,000.

What are key features of this property?

This property features: 16 Years Remaining on an Absolute Triple‑Net (NNN) Lease with a Top IHOP Franchisee; 10 Percent Rental Increases Every Five Years with Multiple Renewal Options; Established Location - **Store Sales Exceed IHOP’s Average Unit Level Performance**

4001 Wabash Ave, Springfield, IL

NNN leased IHOP with established sales and rental increases.

Property Features for 4001 Wabash Ave

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Versatile Commercial Property, Springfield, IL

Spacious Office Building, Springfield, IL

Multi-Purpose Building with Basketball Court

Versatile Commercial Property in Springfield

Springfield Industrial Park Warehouse Building

Springfield Strip Mall For Sale

Well-Maintained Office Building

Class A Office Building

Medical Office Condo Suite

Springfield Commercial Building Opportunity

Downtown Springfield Commercial Building For Sale

Commercial Building with Ample Parking

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