IHOP, International House of Pancakes, is a leader in the breakfast chain restaurant business but also offers a full lunch and dinner menu. IHOP currently has over 1,600 locations in all 50 states and in 17 different countries. IHOP offers long leases generally around 20-25 years with varying rent escalations built into the lease. The typical IHOP prototype is around 4,000-5,000 square feet on a parcel of land anywhere from 0.5-2 acres of land.