Average Sale and Lease Details

Price Range 12mo avg: $1.2M – $4.17M
$/sf 12mo avg: $633
CAP Rate 12mo avg: 5.51%
NOI average: $161082
Lease Terms: 20yrs
Typical Lease Type: NNN
Building Size avg: 4200 SF
Lot Size avg: 1+/- acres

About IHOP

The largest full-service dining company in the world.

In the past, the world knew us as IHOP®, an American icon to our guests and a franchising company that was focused on providing strategic leadership and vision for our franchisees and on enhancing value for our shareholders. With this dedicated focus, we cultivated a core expertise in brand revitalization and franchising know-how which became the basis for the winning formula that has defined the financial success of our business in recent years. With the addition of Applebee’s® to the IHOP family of restaurants in November 2007, we made a bold new commitment to our brand revitalization abilities and to the power of franchising. DineEquity promises to make our two businesses more powerful and more successful than either brand could have been apart. In October of 2012, DineEquity successfully completed the transition of Applebee’s to a 99% franchised restaurant system. Our goal remains to provide delicious, innovative dishes and exceptional guest experiences each and every time a guest walks through either brand’s doors. With more than 3,600 restaurants combined in 18 countries, more than 400 franchisees and approximately 200,000 team members (including franchisee- and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world.


When Al and Jerry Lapin opened the first International House of Pancakes in Toluca Lake, California on July 7, 1958, they never dreamed that five decades later the family restaurant they founded would become the American icon it is today. From humble beginnings, we have grown to more than 1,650 IHOP restaurants in 50 states, and the District of Columbia. Internationally, IHOP has locations in Canada, Mexico, Guatemala, the Middle East, The Philippines, Puerto Rico and the U.S. Virgin Islands. Today, IHOP is the leader in the family dining segment of the restaurant industry. Our 99% franchised system delivers strong free cash flow results that have been a hallmark of the financial performance of IHOP.



Annual Reports

IHOP Financial Highlights

S&P Credit Rating: N/A+
Moody’s Credit Rating: N/A1
Annual Revenue 2015: $681.1M
Annual Revenue 2014: $655M
Revenue Growth: 3.9 2014
Net Income $36.5M
Units (Dec. 2015) 1683
Average Units Volume: $183.29K

Average Units Volume includes Applebees which has a total of 2033 units.

Recent Closings for IHOP and Similar Tenants

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