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Property profile & analytics
FOR SALE
Conventional restaurants

2607 Blue Heron Dr Marion, IL 62959

5,000 SF Built 2016
Property ID
US28-Q024734
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Conventional restaurants
Year built 2016
Total area 5,000 SF
UPID US28-Q024734
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • IHOP Restaurant
  • TenderFix by Noah Schnapp Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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