800 Cloverleaf Plaza, Kannapolis (Charlotte Msa), North Carolina - For Sale
IHOP – Kannapolis, NC
Offer Price
$2,960,000
About this property
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 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 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!
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. & 13 countries
2024 DEMOGRAPHICS: Total Population (5-MI): 107,853 | Average Household Income (1-MI): $112,596
Year built: 2024
CAP rate: 6.25%
Tenant: Suncakes, LLC
Lease type: Absolute NNN
Lease expiration: 09/30/2039
Details: (Building & Land) Fee Simple
Building size: 5279 sq ft
Property Details
Location
Pricing Details
Listing Information
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.