Brian Brockman 5133000763

IHOP - STATESVILLE, NC 1026 Glenway Dr 5,558 SF Retail Building Statesville, NC 28625 $2,167,000 ($389.89/SF) 6% Cap Rate

INVESTMENT HIGHLIGHTS

Brand new 15-year Absolute NNN lease with attractive 10% rental escalations every 5 years with three 5-year options to renew.
Located in dominant retail corridor (pad site to a Walmart Anchored Shopping Center) on a large ±1.325-acre lot with great visibility/access
2024 DEMOGRAPHICS: Total Population (5-MI): 48,019 | Average Household Income (1-MI): $88,382

Suncakes, LLC is a 34-unit operator wholly owned by Sun Holdings (2nd largest franchisee in the U.S.) with over 1,500 units across multiple brands
Traffic counts of 32,018 CPD (just north of I-40 with traffic counts of 59,421 CPD)

EXECUTIVE SUMMARY

(Building & Land) Fee Simple
In Association with Designated Broker:
Brian Brockman – Broker
License #: 298998
Bang Realty, Inc
bor@bangrealty.com
513-898-1551

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

5,558 SF

Building Class

Year Built

2024

Price

$2,167,000

Price Per SF

$389.89

Cap Rate

NOI

$130,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.10

Lot Size

1.33 AC

Zoning

C - Commercial

Frontage

173’ on Glenway Dr

AMENITIES

Restaurant
Signage

Air Conditioning

MAJOR TENANTS

Accommodation and Food Services
5,558 SF
-
Sep 2039

Since 1958, IHOP® has been the place where people connect over breakfast, enjoy study breaks, grab a bite before or after sporting events, and so much more. And no matter what menu items they order, there’s one ingredient that’s always constant — a smile. They've seen millions of smiles over the years in their restaurants, and now shared in photos across their social properties. In fact, smiles are so much a part of their culture that they changed their logo to include one. This is just one of the many fun and exciting changes customers can expect from IHOP®. Because they know the shortest distance between two people is a smile. For more than 63 years, IHOP has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers numerous different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items, including Ultimate Steakburgers.

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF			LEASE END
	Accommodation and Food Services	5,558 SF	-			Sep 2039

TRAFFIC

COLLECTION STREET	CROSS STREET	TRAFFIC VOLUME	YEAR	Distance
Glenway Dr	Turnersburg Hwy, NW	9,766	2022	0.05 mi
Glenway Drive	Turnersburg Hwy, NW	10,000	2019	0.06 mi
Turnersburg Highway	Glenway Dr, N	30,500	2019	0.10 mi
Turnersburg Hwy	Glenway Dr, N	30,266	2022	0.12 mi
Sullivan Road	Carolina Ave N, S	11,132	2020	0.18 mi
Sullivan Rd	Carolina Ave N, S	10,787	2022	0.18 mi
Valley St	Winter Dr, S	58,257	2022	0.27 mi
I-40	Winter Dr, S	54,000	2020	0.27 mi
I- 40	Sullivan Rd, W	56,261	2022	0.29 mi
Turnersburg Hwy	Fourth Creek Landing Dr, N	21,158	2022	0.31 mi