IHOP NNN Property For Sale — Lexington, NC
11 Plaza Parkway, Lexington, NC 27292
This investment opportunity features a brand new 14-year Absolute NNN lease with IHOP, a well-established and nationally recognized restaurant chain. The lease includes attractive 10% rental escalations every 5 years, providing a consistent increase in income. The tenant, Suncakes, LLC, is a highly experienced 34-unit operator wholly owned by Sun Holdings, the second-largest franchisee in the U.S. with over 1,500 units across various brands. The property is strategically located within a dominant retail corridor, serving as a pad site to a bustling shopping center anchored by major retailers. This prime location benefits from high traffic counts and excellent visibility, ensuring strong customer draws. The surrounding area boasts robust demographics, making this a compelling asset for inv…
- Address: 11 Plaza Parkway, Lexington, NC 27292
- Asking price $2.16M
- 6.25% cap rate
- NOI $135,000
- 13.1 years remaining
- NNN lease
Asset type: Retail/Restaurant