1026 Glenway Dr Statesville, NC 28625-9205
Property profile & analytics
1026 Glenway Dr Statesville, NC 28625-9205
- Turn key restaurants
- 8,507 SF
- 1.33 lot acres
Property ID
US53-0596038
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- IHOP / Restaurant
Property Details for 1026 Glenway Dr
- Year built
- 1996
- Construction
- WOOD
- Lot size
- 1.33 lot acres
- Property size
- 8,507 SF
- Zone code
- B-3,B3
- Property type
- Turn key restaurants
- APN
- 4745-44-3437.000
- APU
- 4745443437000
Description
This exceptional investment opportunity presents a brand-new, 5,558-square-foot IHOP restaurant in Statesville, North Carolina. The property boasts a 15-year absolute NNN lease with a prominent tenant, Suncakes, LLC, a subsidiary of Sun Holdings, the second-largest franchisee in the U.S. The lease features attractive 10% rent escalations every five years and includes three five-year renewal options, ensuring long-term, stable income. Located on a 1.325-acre lot in a high-traffic retail corridor, this pad site is adjacent to a Walmart-anchored shopping center and benefits from exceptional visibility and accessibility on Glenway Drive, near Turnersburg Highway (32,018 CPD) and I-40 (59,421 CPD). The surrounding area is densely populated, with a strong demographic profile including a high average household income. Nearby retailers include Lowe's, Home Depot, Publix, and many other national brands. The property's strategic location, coupled with the strength of the tenant and the favorable lease terms, makes this a compelling investment opportunity with a 5.50% cap rate and a current NOI of $130,000. Built in 2024, this single-story building is zoned C and offers a fee-simple ownership structure. The property's proximity to Mitchell Community College and Iredell Memorial Hospital further enhances its appeal. This is a rare chance to acquire a high-performing, low-maintenance investment property with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Statesville
- County
- Iredell
- State
- North Carolina
- Longitude
- -80.8742
- Latitude
- 35.8086
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,162
$699,600
$495,570
$1,195,170
-
$699,600
$495,570
$1,195,170
