IHOP plans to return to the Dayton market with a new restaurant on Miller Lane's "restaurant row" overlooking I-75, according to the two commercial Realtors involved in a real-estate transaction.
An agreement has been reached for the purchase of the 2.3-acre former Max & Erma’s property at 6930 Miller Lane for $1.45 million, according to Robert Zavakos, senior vice president of the commercial real estate firm of NAI Bergman, and Giorgio Karras, vice president of JLL (Jones Lang LaSalle). Zavakos represented the seller in the transaction, and Karras represented the buyer, The Nazarian Group, which operates IHOP restaurants in the Cincinnati-area market and in the Houston area as well.
The Nazarian Group is not affiliated with any of the other, now-closed Dayton-area IHOPs, or their former franchise owner, or the area developer who oversaw construction of the former IHOP restaurants, Karras and Zavakos said.
Three Dayton-area IHOPs in Beavercreek, Huber Heights and Springfield shut down abruptly in January 2019, and a restaurant initially intended to be the Dayton area’s fourth IHOP, on Benchwood Road in Vandalia, never opened as an IHOP despite being built and outfitted as an IHOP, including signage. That restaurant opened briefly earlier this year as Wright Cafe, but it shut down in June after about three months.
Karras said The Nazarian Group “is excited about IHOP coming back into the Dayton market.” The company is “a solid, great franchise operator,” he said. Potential plans for further expansion of the IHOP brand in the Dayton area will come later, Karras said.
An IHOP corporate spokeswoman said late this morning that the Miller Lane restaurant is expected to open before the end of the year.