3495 Baseline Rd, Gilbert, AZ 85234-2651

This exceptional investment opportunity presents a 5,049 square foot IHOP restaurant in Gilbert, Arizona, operating under a 16-year absolute triple-net (NNN) lease with a highly reputable franchisee. The lease, expiring October 24, 2040, includes a 7.5% rent increase every five years and multiple five-year renewal options, ensuring long-term, stable income. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $135,000 annually. Built in 1999, this single-tenant property sits on a 1.07-acre lot at a prime location on East Baseline Road, benefiting from high traffic counts exceeding 74,350 vehicles daily. Its proximity to Highway 60 (207,938 cars per day) and the Village Square at Dana Park further enhances its visibility and accessibility. The property's central location within a short drive of both Downtown Gilbert and Downtown Mesa ensures consistent customer traffic. This is a rare opportunity to acquire a well-established, high-performing restaurant property with a secure, long-term lease and significant upside potential. The asking price is $2,700,000, representing a price per square foot of $534.76. The property currently enjoys 100% occupancy.