This offering presents the opportunity to acquire a single-tenant IHOP restaurant property located at 2000 W Northern Avenue in Phoenix, Arizona. The property consists of a 4,769± square foot restaurant building situated on a 1.59± acre parcel and is occupied by IHOP under a long-term net lease. IHOP is currently in the seventh year of a 24-year lease term, with approximately 17 years remaining and a lease expiration date of January 30, 2043. The long-term tenancy provides investors with stable cash flow backed by one of the most recognized family dining brands in the United States. Strategically positioned along Northern Avenue within the Phoenix metropolitan area, the property benefits from strong visibility, established surrounding retail and commercial development, and access to a large residential customer base. This investment offers a combination of durable income, tenant stability, and long-term value in one of the nation's fastest-growing markets.