IHOP - KANNAPOLIS, NC 800 Cloverleaf Plz 5,280 SF Retail Building Kannapolis, NC 28083 $2,995,000 ($567.23/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
- Pad site to a Ross, Dollar General, Harbor Freight Tools & Gabe Shopping Center - situated on a large ±1.10-acre lot
- 2024 DEMOGRAPHICS: Total Population (5-MI): 107,853 | Average Household Income (1-MI): $112,596
- Suncakes, LLC is a 34-unit operator wholly owned by Sun Holdings (2nd largest franchisee in the U.S.)
- Excellent visibility/access on S Cannon Blvd with traffic counts of 29,149 CPD! Just 1/4 mile north of I-85 with traffic counts of 112,098 CPD!
EXECUTIVE SUMMARY
The Asset is Pad site to a Ross, Dollar General, Harbor Freight Tools & Gabe Shopping Center - situated on a large ±1.10-acre lot with excellent visibility/access on S Cannon Blvd with traffic counts of 29,149 CPD! Just 1/4 mile north of I-85 with traffic counts of 112,098 CPD! Pad site to a Ross, Dollar General, Harbor Freight Tools & Gabe Shopping Center, adjacent to Home Depot; Retailers within 5-miles include, Walmart, Target, Sam's Club, Lowe's, Kohl's, Hobby Lobby, Marshalls, Burlington, Homesense, Academy Sports + Outdoors, Big Lots, Party City, ALDI, PetSmart, Ace Hardware, Planet Fitness, Anytime Fitness; Less than 1 mile from Carolina Mall - a fully enclosed shopping mall anchored by Belk, JCPenney & Staples with over 30 retailers & restaurants. It is 4 miles from Rowan-Cabarrus/NC Research Campus - a 62,000 SF facility that hosts the College's nursing & biotechnology programs, as well as the Small Business Center. The College's Advanced Technology Center (ATC) is a 55,000 SF building includes practical & integrated labs, as well as a large flex lab; 1 mile from Atrium Health Cabarrus Concord - a regional 457-bed, not-for-profit hospital with more than 4,200 hospital employees.
In Association with Designated Broker:
Brian Brockman – Broker
License #: 298998
Bang Realty, Inc
bor@bangrealty.com
513-898-1551
PROPERTY FACTS
AMENITIES
- Freeway Visibility
- Restaurant
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Sep 2022
Since 1958, IHOP® has been the place where people connect over breakfast, enjoy study breaks, grab a bite before or after sporting events, and so much more. And no matter what menu items they order, there’s one ingredient that’s always constant — a smile. They've seen millions of smiles over the years in their restaurants, and now shared in photos across their social properties. In fact, smiles are so much a part of their culture that they changed their logo to include one. This is just one of the many fun and exciting changes customers can expect from IHOP®. Because they know the shortest distance between two people is a smile. For more than 63 years, IHOP has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers numerous different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items, including Ultimate Steakburgers.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | Sep 2022 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5622-02-7659-0000 | Improvements Assessment | $1,035,120 |
| Land Assessment | $1,494,980 | Total Assessment | $2,530,100 |
