1935 Skibo Rd
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1935 Skibo Rd
6,655 SF Retail Building Fayetteville, NC 28314 $872,727 ($131/SF) 11% Cap Rate
Investment Highlights
- LEASEHOLD OWNERSHIP
- RENTAL INCREASES
- GREAT LOCATION IN FAYETTEVILLE, NC
- ZERO LANDLORD RESPONSIBILITIES
- LONG-TERM TENANT
Executive Summary
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to offer for sale the opportunity to acquire the Leasehold interest in the IHOP property located at 1935 Skibo Rd in Fayetteville, NC (the "Property"). The Property encompasses a 6,655 SF restaurant on 1.79 acre parcel.
The Property is 100% leased to IHOP Properties, Inc. (the "Tenant"), the national chain with 1,814 locations around the world. This location’s lease is backed by Pasadena, CA-based Dine Brands Global, which is publicly traded (NYSE: DIN).
Tenant is subject to a newly extended lease with 10 years remaining, providing income security through January 2035. The Lease also offers a 5% rental increase in year 6.
The Property is 100% leased to IHOP Properties, Inc. (the "Tenant"), the national chain with 1,814 locations around the world. This location’s lease is backed by Pasadena, CA-based Dine Brands Global, which is publicly traded (NYSE: DIN).
Tenant is subject to a newly extended lease with 10 years remaining, providing income security through January 2035. The Lease also offers a 5% rental increase in year 6.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,655 SF
Building Class
B
Year Built
1999
Price
$872,727
Price Per SF
$131
Cap Rate
11%
NOI
$96,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.79 AC
Zoning
C1P - Commercial
Parking
85 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
91 FT on Skibo Rd
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0407-98-8561 | Improvements Assessment | $456,400 |
| Land Assessment | $1,150,820 | Total Assessment | $1,607,220 |
PROPERTY TAXES
Parcel Number
0407-98-8561
Land Assessment
$1,150,820
Improvements Assessment
$456,400
Total Assessment
$1,607,220
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1935 Skibo Rd
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