IHOP NNN Properties for Sale
8 live IHOP listings as of October 7, 2026.
IHOP cap rates by band
| Cap rate band | Listings | Average asking price |
|---|---|---|
| 5.00% – 5.99% | 1 | $4.51M |
| 6.00% – 6.99% | 6 | $2.04M |
| 8.00% and above | 1 | $2.52M |
IHOP listings by state
| State | Listings | Average cap rate |
|---|---|---|
| Florida | 2 | 6.91% |
| Arkansas | 1 | 8.76% |
| Indiana | 1 | 6.25% |
| North Carolina | 1 | 6.25% |
| Tennessee | 1 | 6.50% |
| Texas | 1 | 5.52% |
IHOP remaining lease term
| Remaining term | Listings | Average cap rate |
|---|---|---|
| Under 5 years | 5 | 7.07% |
| 10 – 14.9 years | 1 | 6.25% |
| 15+ years | 2 | 5.76% |
Buying IHOP in a 1031 exchange
In a 1031 exchange, replacement property must be identified within 45 days of selling the relinquished property and the purchase must close within 180 days. A qualified intermediary holds the sale proceeds in between. Speak with your own tax adviser about your situation.
3 of the 8 live IHOP listings have 10 or more years of primary lease term remaining (as of October 7, 2026).
IHOP due-diligence checklist
- Read the full lease: confirm the firm term, renewal options, rent schedule and every landlord responsibility.
- Confirm who guarantees the lease (corporate, franchisee or personal) and review the guarantor’s financial statements where available.
- Order tenant estoppel and SNDA documents before closing.
- Review the title commitment, survey and zoning report for the parcel.
- Commission a Phase I environmental site assessment.
- Inspect the roof, structure, parking lot and HVAC, and confirm any warranties.
- Verify property tax, insurance and CAM reimbursements against the lease.
- Review store-level sales or rent-to-sales data if the tenant reports it.
IHOP net lease FAQ
How many IHOP net lease properties are for sale?
Net Lease World shows 8 live IHOP listings as of October 7, 2026.
What cap rates are IHOP properties listed at?
Live IHOP listings with a published cap rate range from 5.52% to 8.76%, with a median of 6.38% (as of October 7, 2026). These are asking cap rates, not closed sales.
What is the typical asking price for a IHOP property?
The median asking price across live IHOP listings with a published price is $2.52M (as of October 7, 2026).
Which states have the most IHOP listings?
Florida (2), Arkansas (1), Indiana (1). Listings appear in 6 states in total (as of October 7, 2026).
How much lease term is left on IHOP listings?
The median remaining primary lease term is 4.2 years; 3 listings have 10 or more years remaining (as of October 7, 2026).
Live IHOP listings
- IHOP — Mishawaka, IN · Asking $2.55M · 6.25% cap rate
- IHOP — Antioch, TN · Asking $2 · 6.50% cap rate
- IHOP — Lexington, NC · Asking $2.16M · 6.25% cap rate
- IHOP — Searcy, AR · Asking $2.52M · 8.76% cap rate
- IHOP · Asking $2.50M · 6.00% cap rate
- IHOP — Spring, TX · Asking $4.51M · 5.52% cap rate
- IHOP — Tallahassee, FL · Asking $2.52M · 6.91% cap rate
- IHOP — Tallahassee, FL · Asking $2.52M · 6.91% cap rate