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1026 Glenway Dr
Statesville, NC 28625

$2,365,000 USD

Restaurant For Sale  •  5,456 SF

Property Details

  • Property Type Restaurant
  • Total Building Size 5,558 SF
  • Lot Size 1.33 AC
  • Building Class B
  • Year Built 2024
  • Cap Rate 5.50 %
  • Tenancy Single
  • Zoning C
0 Transit Score
31 Walk Score

Highlights

Brand new 15-year Absolute NNN lease with attractive 10% rental escalations every 5 years with three 5-year options to renew.
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
Located in dominant retail corridor (pad site to a Walmart Anchored Shopping Center) on a large ±1.325-acre lot with great visibility/access
Traffic counts of 32,018 CPD (just north of I-40 with traffic counts of 59,421 CPD)
2024 DEMOGRAPHICS: Total Population (5-MI): 48,019 | Average Household Income (1-MI): $88,382
Cap Rate: 5.50 %

Major Tenants

Tenant SF Occupied Lease End Date
IHOP 5,558 SF 9/30/2039

Amenities

  • Restaurant
  • Signage
  • Air Conditioning

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Kendall Carlsen 214-643-6097 Commercial Investment Advisors, INC
Kendall Carlsen 214-643-6097 Commercial Investment Advisors, INC