IHOP – Kannapolis, NC

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. and 13 countries.

The Asset is Pad site to a Ross, Dollar General, Harbor Freight Tools and 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 and 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 and Staples with over 30 retailers and restaurants. It is 4 miles from Rowan-Cabarrus/NC Research Campus – a 62,000 SF facility that hosts the College’s nursing and biotechnology programs, as well as the Small Business Center. The College’s Advanced Technology Center (ATC) is a 55,000 SF building includes practical and 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.

Property Highlights