An International House of Pancakes restaurant in San Jose has been acquired for $5.6 million by a South Bay investment group. The deal reflects enduring interest in dining properties despite a challenging retail market. The new owners plan to maintain the existing IHOP, which operates under a 10-year lease with two five-year extension options. The sale price aligns closely with the site’s assessed value of $5.7 million, indicating stable property values in the region. The location benefits from proximity to Westfield Oakridge and local entertainment venues.
A South Bay investment group paid $5.6 million in an all-cash deal for the site at 981 Blossom Hill Rd., indicating continued interest in dining properties.
The breakfast-oriented establishment has a 10-year lease with two five-year options, ensuring the IHOP restaurant will remain in place after the property purchase.
The transaction illustrates stable property values as the sale price was close to the site’s estimated value of $5.7 million by the Santa Clara County Assessor's Office.
Local investors demonstrated confidence in the retail market by acquiring a property near Westfield Oakridge and Golfland San Jose.
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