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Virtual Drive-By

IHOP Absolute NNN

4383 Venture Drive · Peru, IL 61354 · QSR / Restaurant

Asking price
$1,235,000
Cap rate
8.50%
NOI
$95,229

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Lease

Lease typeAbsolute NNN
Term remaining5.3 yrs
Expiration10/2031
Rent bumps10% every 5 years commencing in Year 6
OptionsFour (5) Year Options
Ground leaseNo
Credit profileFranchisee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF3,730
Price / SF$351
Year built1996
Lot size1.23 ac
TypeRestaurant
Days on market53

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​8% Cap Rate Nov 1st, 2026​
  • ​Priced Well Below Replacement Cost
  • ​Absolute NNN Lease — Zero Landlord Responsibilities
  • ​Approximately 5.5 Years Remaining and four 5-Year Options to Extend
  • ​10% Rental Increase Nov. 1st, 2026 and Increases Every 5 Years throughout Remainder of Primary Term and Options to Extend
  • ​Located approximately 0.12 miles from Interstate 80, which experiences traffic counts in the amount of ±25,000 vehicles per day
  • ​The Peru Mall, which contains 72 Stores throughout its ±460,768 SF, is approximately 0.5 miles southwest of the Subject Property

Property overview

Cushman & Wakefield of California, Inc.​, as the exclusive advisor to the seller, is pleased to present the absolute net lease investment opportunity in the fee simple interest of an IHOP restaurant located at 4383 Venture Drive in Peru, Illinois.​

The Property is subject to a ten (10) year NNN Lease that commenced in November of 2021 with ten percent (10%) rental increases every five (5) years throughout the remainder of the Primary Term and at each of the four (4) 5-year Options to Extend.​

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.