714 Us 74 Hwy Rockingham, NC 28379
- Retail properties
- 5,780 SF
- 1.57 lot acres
Current Use by Public Records
- Retail properties
Property Details for 714 Us 74 Hwy
- Year built
- 2024
- Lot size
- 1.57 lot acres
- Property size
- 5,780 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockingham
- County
- Richmond
- State
- North Carolina
- Longitude
- -79.8207
- Latitude
- 34.9571
