Long-Term Absolute NNN Lease | ~11 Years Remaining: The tenant executed a 12-year absolute NNN lease (expiring 6/30/2037) with zero landlord responsibilities and contractual 10% rent increases every five years.
Attractive Going-In Yield with Built-In Growth: Offered at a 6.25% cap rate ($2,200,000 list price on $132,000 NOI), with a scheduled 10% rent bump to $145,200 in 2032, stepping the yield to a 6.69% cap and providing inflation-protected income through the hold.
• Truly Passive, Management-Free Ownership: Absolute net structure places all responsibility for taxes, insurance, maintenance, roof, and structure on the tenant—an ideal fit for a hands-off 1031 or passive investor.
• Interstate 44 Frontage on Historic Route 66: Positioned off I-44 on N. Bishop Avenue (Old Route 66)—the gateway to Rolla—with 27,200+ vehicles per day and a high-rise pole sign visible from the interstate.
• Missouri S&T University Economy: Adjacent to Missouri University of Science & Technology, consistently ranked among the top engineering and technology universities in the U.S., anchoring a stable university-based economy and strong daytime demand.
• Phelps Health Regional Hub: Minutes from Phelps Health, a 240-bed regional hospital serving six adjacent counties with over 2,000 employees—a major daytime population and employment driver.
• National Retail Synergy: Surrounded by national chains including Starbucks, Panera, Buffalo Wild Wings, Taco Bell, Hardee’s, and Dairy Queen, reinforcing the corridor as Rolla’s dominant retail and hospitality node.
• Strategic St. Louis–Springfield Positioning: Located on the I-44 corridor midway between St. Louis and Springfield, Rolla (the Phelps County seat), continues to attract new national-chain, healthcare, and university-driven development.
• Dominant Breakfast Brand: IHOP is a household name with over 1,800 locations nationwide, franchised under Dine Brands Global, Inc. (NYSE: DIN).
• Experienced Multi-Unit Franchisee: The lease is guaranteed by an established multi-unit IHOP operator (9-unit guaranty), providing demonstrated operational depth and brand commitment.
• Purpose-Built Freestanding Asset: A 4,646-square-foot building on 1.3 acres (built 2017) with prime interstate visibility, reflecting a long-term capital commitment by the franchisee at a well-established Rolla location.

Navigation Menu

IHOP

Key Information

Highlights

Photos

Location

Agents

Broker of Record

Kyle Matthews