714 Us 74 HwyRockingham, NC 28379

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 5,780-square-foot IHOP restaurant in Rockingham, North Carolina. Built in 2024, the property boasts a 15-year absolute NNN lease with a highly reputable tenant, Suncakes, LLC, a subsidiary of Sun Holdings, the second-largest IHOP franchisee in the U.S. The lease features attractive 10% rent bumps every five years and includes three five-year renewal options, extending the lease term to 2039. The property sits on a sizable 1.57-acre lot in a dominant retail corridor, enjoying excellent visibility and accessibility on W US-74 Hwy, with a daily traffic count of 25,166 vehicles. Its strategic location is adjacent to a Walmart Shopping Center and across from Aldi and Goodwill. Nearby, a robust mix of national and regional retailers further enhances the property's appeal. The property's strong location is complemented by proximity to Richmond Community College and FirstHealth Moore Regional Hospital, serving a population of 29,972 within a five-mile radius and boasting an average household income of $67,173 within one mile. The property generates a substantial net operating income (NOI) of $100,000, resulting in a compelling 5.50% cap rate. This single-tenant, single-story building offers a secure and profitable investment opportunity with significant long-term potential. The property is zoned C.