IHOP – Lexington, 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 Located in dominant retail corridor (pad site to a Belk, Tractor Supply and Ollie’s Bargain Outlet Shopping Center) on a large ±1.25-acre lot – just east of Cotton Grove Rd with traffic counts of 26,248 CPD (just north of I-85 with traffic counts of 62,228 CPD). Pad site to a Belk, Tractor Supply and Ollie’s Bargain Outlet Shopping Center with key tenants such as Gabe’s, Dollar Tree and Planet Fitness – Lexington has major retailers including Walmart, Lowe’s, Roses Discount Store, Big Lots, Maurices, Food Lion, ALDI, Shoe Show, Shoe Dept, PetSmart, Dollar General, Harbor Freight, Aaron’s, Rent-A-Center, Goodwill, Sally Beauty, GameStop, Verizon, Cricket Wireless, T-Mobile, and Walgreens. It is Less than 10 miles from Davidson-Davie Community College Thomasville – a public community college offering various programs serving 3,765 students; 3 miles from Wake Forest Baptist | Lexington Medical Center – a not-for-profit facility licensed with 94 acute care beds specializing in orthopedic surgery, general surgery, ENT/head and neck surgery and cancer care.

Property Highlights