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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
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
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
Building Size
4,526 SF
Building Class
B
Year Built
2024
Price
$2,167,000
Price Per SF
$478.79
Cap Rate
6%
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
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- 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 |
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| Cotton Grove Rd | Brown St, N | 23,879 | 2024 | 0.17 mi |
| Cotton Grove Road | Brown St, N | 23,918 | 2025 | 0.17 mi |
| State Road 1254 | Arthur Murph Dr, W | 3,652 | 2025 | 0.29 mi |
| Cotton Grove Road | Cody St, N | 11,026 | 2025 | 0.32 mi |
| Cotton Grove Road | Cedar LnDr, S | 22,086 | 2025 | 0.33 mi |
| Brown St | Arthur Murph Dr, W | 3,658 | 2023 | 0.41 mi |
| Fairview Dr | Cody St, SW | 11,245 | 2024 | 0.44 mi |
| Fairview Drive | Cody St, SW | 11,284 | 2025 | 0.46 mi |
| Cotton Grove Rd | Walltown St, N | 7,957 | 2025 | 0.51 mi |
| NC 8 | Victor St, N | 9,768 | 2024 | 0.80 mi |
NEARBY MAJOR RETAILERS
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
$0
Improvements Assessment
$0
Total Assessment
$1,092,570
MAP
ADDITIONAL PHOTOS
IHOPLEXINGTON3
IHOPLEXINGTON4
IHOPLEXINGTON2