Bricktown IHop Building: 400 E. California

[OklahomaNick]

Bricktown IHOP Building: 400 E. California

[OklahomaNick]

Bricktown IHOP building at 400 E. California was recently put up for sale:

LoopNet - Bricktown IHOP Building - 400 E. California Ave., Restaurant, 400 E. California Ave., Oklahoma City, OK


Price: $7,600,000
Building Size: 38,854 SF
Price/SF: $195.60

[Pete]

Interesting.

It was purchased in 2004 for $1.3 million and of course it's been renovated, but if they get anywhere near that $7.6 million price they will have made an absolute killing.

Which in a way would be good incentive for other renovation projects.

[onthestrip]

What other leases does it have other than IHOP?

[OklahomaNick]

What other leases does it have other than IHOP?

Occupancy:100%
Here is the flyer with the financials: http://www.loopnet.com/Attachments/8...E6DB2CB81C.pdf

[Pete]

It is full... I was in there recently for a meeting with the marketing and ad firm, Liquid Fish.

They have really slick offices and the whole building has an industrial/loft type of feel.

[Plutonic Panda]

IHOP building in Oklahoma City's Bricktown district fetches top dollar | News OK

[hewi]

IHOP building in Oklahoma City's Bricktown district fetches top dollar | News OK

Missing the good times managing at 2:00AM Friday and Saturday nights. Always entertained by the crowds after the clubs ended. Great solid building.

[Prunepicker]

An I-Hop in Bricktown? Why didn't a local restaurant get the gig?

Seriously. OKC doesn't need chains. Let every other mindless town
in the US have chains. We need to be different. Send the chains to
Siberia. We need local flavor at every turn of the race.

C'mon OKC. We're the best.

[kevinpate]

PP, that IHoP has been there for a number of years. I suppose it went in instead of a local at the time because it made more business sense to the pancake folk than it did to any local with the means to make it happen.

I've only eaten there a time or three, but like most any other IHoP I have ever visited, it was ok grub and friendly staff and a few of the patrons were tipsy or beyond.

[bchris02]

An I-Hop in Bricktown? Why didn't a local restaurant get the gig?

Seriously. OKC doesn't need chains. Let every other mindless town
in the US have chains. We need to be different. Send the chains to
Siberia. We need local flavor at every turn of the race.

C'mon OKC. We're the best.

I agree. I wish that Bricktown had a local 24-hour diner with character rather than an IHOP. However, the IHOP is a relic of another era in downtown OKC development. It was a time when no local entrepreneur would want to do something as risky as opening in downtown OKC. As for chains in general, it makes good sense for a district like Bricktown to have a mixture of chains and local establishments. Believe it or not, many visitors actually prefer chains because they know what they are getting. That's why in EVERY city, the tourist-oriented areas tend to be chain dominated.

[Urbanized]

Bricktown is hardly chain-dominated. And while it is certainly visitor-friendly, it still sees far more business from metro residents than out-of-towners.