IHOP Property in San jose Sells for $5.6 Million, Signaling Retail Resilience
SAN JOSE – A prime International House of Pancakes property in San Jose has been acquired by local investors for $5.6 million,a transaction highlighting the enduring appeal of certain commercial real estate despite a complex retail landscape.
The sale, finalized on July 22, saw a South Bay investment group take ownership of the site located at 981 Blossom Hill Road. Documents filed with the Santa clara County Recorder’s Office confirmed the details of the transaction.
The new ownership is a Santa Clara-based entity spearheaded by Longzhe Li and Chris Li, according to public records. The seller was identified as a collective of family trusts, with Colliers commercial real estate broker John Machado representing their interests.
The IHOP restaurant is expected to continue its operations at the acquired location. The establishment benefits from a 10-year lease agreement, which includes provisions for two five-year extensions, as noted in a LoopNet listing.
Strategically positioned across from Westfield Oakridge, a major retail, dining, and entertainment destination, the property also sits near the Golfland San Jose miniature golf course. This proximity to established attractions likely contributed to its marketability.
The sale price closely mirrored the property’s assessed value of $5
