79 Plaza Pky
Lexington, NC 27292
IHOP - LEXINGTON, NC · Retail Property For Sale

This offering features a brand-new IHOP restaurant secured by a 15-year Absolute NNN ground lease, delivering zero landlord responsibilities and a reliable, fully passive income stream. The lease includes 10% rental escalations every five years, aligning perfectly with inflation and long-term cash flow growth strategies. The tenant has three (3) five-year options to renew, extending potential occupancy through 35 years, making this a rare long-term asset with built-in rental appreciation.
The tenant, Suncakes, LLC, is a 34-unit IHOP franchisee wholly owned by Sun Holdings, Inc., the second-largest franchise operator in the U.S. Sun Holdings boasts a portfolio of over 1,500 units across 12+ major brands including Taco Bell, Popeyes, Arby’s, and Burger King. This level of operational scale, diversification, and financial backing provides significant credit strength and long-term security for the lease.
The IHOP is strategically positioned on a ±1.25-acre pad site within a high-traffic, regional power center anchored by Belk, Tractor Supply Co., and Ollie’s Bargain Outlet, and surrounded by national credit co-tenants. Located just east of Cotton Grove Road, and immediately north of Interstate 85, the asset benefits from exceptional traffic counts exceeding 88,000 CPD combined. This provides unmatched visibility and access to both local residents and transient highway traffic.
This IHOP investment presents a rare opportunity to acquire a recession-resistant, absolute NNN asset with zero landlord responsibilities, strong rental escalations, and a credit-backed franchisee operating under one of the most recognized national brands. With a strategic high-traffic location in a thriving retail corridor and commitment from a nationally renowned franchise operator, this property checks all the boxes for investors seeking stability, growth, and long-term value.
(Building & Land) Fee Simple
In Association with Designated Broker:
Brian Brockman – Broker
License #: 298998
Bang Realty, Inc
bor@bangrealty.com
513-898-1551