Investment Overview

Marcus & Millichap is please to present a single tenant net leased IHOP restaurant located in Burlington, NC. The property consists of 1.16 acres with a 4,790 square foot building constructed in 1994 and since renovated with contemporary interior furnishings and fixtures. The restaurant has been operating for thirty years at the location. Property is located at the intersection of I-85/40 and Huffman Mill Rd. Traffic at the intersection is 133,000 vehicles per day. Huffman Mill Rd. traffic count in front of site is 18,000 vehicles per day. Burlington is part of the Greensboro-Winston Salem-High Point Market. Known as a large manufacturing and transportation hub for the southeast. The metro population is approximately 1.7 million people and growing. The operator and lease guarantor is Suncakes, LLC, a 34 unit IHOP franchise, with locations in NC,VA,SC. Suncakes, LLC is owned by Sun Holding. include over a thousand Applebee’s, Arby's, Burger King, Freebirds World Burrito, Golden Corral, IHOP, McAlister’s, Papa John’s, Popeye’s, and Taco Bueno locations in 27 States. The collective portfolio of restaurants that Sun supports makes up the 2nd largest franchisee organization in the U.S. according to the Mega 99 2024 rankings. Economic drivers in the market include Lab Corporation Amer Holdings with 2,000 employees, Cone Health Alamance Regional Medical Center with 2,100 employees, Piedmont National Gas with 1,637 employees and Elon University with 985 workers. Labcorp Holdings Inc., operating under the brand name Labcorp, headquartered in Burlington, North Carolina, provides laboratory services used for diagnosis and healthcare decisions. It operates one of the largest clinical laboratory networks in the world and has operations in over 100 countries; although its operations are primarily in the U.S. Elon University is a private university in Elon, North Carolina. Founded in 1889 as Elon College, the university is organized into six schools, most of which offer bachelor's degrees and several of which offer master's degrees or professional doctorate degrees. Elon University is the nationally recognized leader in engaged, experiential learning that prepares graduates to be creative, resilient, ambitious and ethical citizens of our global culture. With an intentional focus on outstanding teaching and hands-on learning, an Elon education involves mentors and peers who connect the dots between knowledge and the impact it can make. This distinct approach to teaching and learning is why U.S. News & World Report has ranked Elon No. 1 in the nation for undergraduate teaching for five consecutive years.