Ihop Lexington, Nc

Highlights:

• Brand new 15-year Absolute NNN lease with attractive 10% rental escalations every 5 years with three 5-year options to renew
• 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 in the U.S. & 13 countries
• 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 - just east of Cotton Grove Rd with traffic counts of 26,248 CPD (just north of I-85 with traffic counts of 62,228 CPD)
• 2024 DEMOGRAPHICS: Total Population (5-MI): 89,904 | Average Household Income (1-MI): $81,379

Description:

IHOP has a Brand new 15-year Absolute NNN lease with attractive 10% rental escalations every 5 years with three 5-year options to renew. The Tenant, 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 in the U.S. & 13 countries.
The Asset is 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 - just east of Cotton Grove Rd with traffic counts of 26,248 CPD (just north of I-85 with traffic counts of 62,228 CPD). Pad site to a Belk, Tractor Supply & Ollie's Bargain Outlet Shopping Center with key tenants such as Gabe's, Dollar Tree & Planet Fitness - Lexington has major retailers including Walmart, Lowe's, Roses Discount Store, Big Lots, Maurices, Food Lion, ALDI, Shoe Show, Shoe Dept, PetSmart, Dollar General, Harbor Freight, Aaron's, Rent-A-Center, Goodwill, Sally Beauty, GameStop, Verizon, Cricket Wireless, T-Mobile, and Walgreens. It is Less than 10 miles from Davidson-Davie Community College Thomasville - a public community college offering various programs serving 3,765 students; 3 miles from Wake Forest Baptist | Lexington Medical Center - a not-for-profit facility licensed with 94 acute care beds specializing in orthopedic surgery, general surgery, ENT/head and neck surgery and cancer care.
In Association with Designated Broker:
Brian Brockman – Broker
License #: 298998
Bang Realty, Inc
bor@bangrealty.com
513-898-1551

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