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IHOP - LEXINGTON, NC 11 Plaza Pky

4,526 SF Retail Building Lexington, NC 27292 $2,167,000 ($479/SF) 6% Cap Rate

Restaurants North Carolina Lexington 11 Plaza Pky, Lexington, NC 27292

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

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,526 SF
Building Class
B
Year Built
2024
Price
$2,167,000
Price Per SF
$479
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 FT 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

Links

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Nearby Major Retailers

Cracker Barrel Old Country Store
IHOP Restaurant
Cook Out
Starbucks
Applebee's
Waffle House
Lidl
Planet Fitness
Woodforest National Bank
Sunbelt Rentals

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
(214) 643-6097

Contact

  • Listing ID: 33476496

  • Date on Market: 10/10/2024

  • Last Updated:

  • Address: 11 Plaza Pky, Lexington, NC 27292

More public record information on 11 Plaza Pky, Lexington, NC 27292

The Retail Property at 11 Plaza Pky, Lexington, NC 27292 is currently available for sale. Contact Commercial Investment Advisors, INC for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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IHOP - LEXINGTON, NC | 11 Plaza Pky
(214) 643-6097 x

IHOP - LEXINGTON, NC | 11 Plaza Pky

Kendall Carlsen

(214) 643-6097

(214) 643-6097

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