2425 Highway 93 N
About This Property
One of the appealing aspects of this lease is that it includes attractive escalations. This means that the rent will increase over time, providing the potential for increased rental income. Furthermore, IHOP has the option to renew the lease for three additional 5-year terms. This provides potential for a long-term, stable income stream. The property is situated on 1.04 acres of land in a prime location in Kalispell. It features a fully equipped kitchen, a dining room, and ADA-compliant restrooms. The paved parking and security lighting enhance convenience and safety. Call Linda P or your real estate professional to view the property and for additional information. The building was constructed in 2004 and has recently undergone updates, ensuring that it meets modern standards and requirements. Its close proximity to prominent big box stores like Petco, Home Depot, Bed Bath & Beyond, Target, and Best Buy makes it highly visible and easily accessible to customers. This is particularly advantageous for attracting foot traffic and potential customers to the IHOP establishment.
It is worth noting that Kalispell has been recognized as the fastest growing micropolitan area in America, highlighting the potential for growth and economic opportunities in the region. This factor further emphasizes the investment potential of the property.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 24, 2024 | No longer available | - | |
| No longer available | |||
| Feb 7, 2024 | In contract | - | |
| In contract | |||
| Oct 21, 2023 | Price Decreased |
$2,546,584
↓ $212K
(7.7%) | |
| Price Decreased | |||
| Sep 29, 2023 | Price Decreased |
$2,758,800
↓ $241K
(8%) | |
| Price Decreased | |||
| Apr 26, 2023 | Price Decreased |
$2,999,500
↓ $401K
(11.8%) | |
| Price Decreased | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
03/15/2023
| |
Loft
|
-
|
-
|
$3,400,000
Loft
-
|
-
-
|
Linda Pistorese
Flathead Valley Brokers
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017