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IHOP - LEXINGTON, NC 11 Plaza Pky 4,526 SF Retail Building Lexington, NC 27292 $2,167,000 ($478.79/SF) 6% Cap Rate

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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 Belk, Tractor Supply & Ollie's Bargain Outlet Shopping Center) on a large ±1.25-acre lot
2024 DEMOGRAPHICS: Total Population (5-MI): 89,904 | Average Household Income (1-MI): $81,379

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
East of Cotton Grove Rd with traffic counts of 26,248 CPD (just north of I-85 with traffic counts of 62,228 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 Under Contract

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

4,526 SF

Building Class

Year Built

2024

Price

$2,167,000

Price Per SF

$478.79

Cap Rate

NOI

$130,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.08

Lot Size

1.25 AC

Zoning

B3 - Highway Business

Frontage

353’ on Plaza

AMENITIES

Pylon Sign

Restaurant

Signage

Air Conditioning

MAJOR TENANTS

IHOP
Accommodation and Food Services
4,526 SF
-
Sep 2039

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF			LEASE END
IHOP	Accommodation and Food Services	4,526 SF	-			Sep 2039

PROPERTY TAXES

Parcel Number	11-347-0-000-0048-G-0-0	Improvements Assessment	$0
Land Assessment	$0	Total Assessment	$1,092,570

PROPERTY TAXES

Parcel Number

11-347-0-000-0048-G-0-0

Land Assessment

Improvements Assessment

Total Assessment

$1,092,570

Listing ID: 33476496
Date on Market: 10/10/2024
Last Updated:
Address: 11 Plaza Pky, Lexington, NC 27292

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