1935 Skibo Rd
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1935 Skibo Rd
6,655 SF Retail Building Fayetteville, NC 28314 £682,865 (£103/SF) 11% Net Initial Yield
Investment Highlights
- LEASEHOLD OWNERSHIP
- RENTAL INCREASES
- GREAT LOCATION IN FAYETTEVILLE, NC
- ZERO LANDLORD RESPONSIBILITIES
- LONG-TERM TENANT
Executive Summary
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to offer for sale the opportunity to acquire the Leasehold interest in the IHOP property located at 1935 Skibo Rd in Fayetteville, NC (the "Property"). The Property encompasses a 6,655 SF restaurant on 1.79 acre parcel.
The Property is 100% leased to IHOP Properties, Inc. (the "Tenant"), the national chain with 1,814 locations around the world. This location’s lease is backed by Pasadena, CA-based Dine Brands Global, which is publicly traded (NYSE: DIN).
Tenant is subject to a newly extended lease with 10 years remaining, providing income security through January 2035. The Lease also offers a 5% rental increase in year 6.
The Property is 100% leased to IHOP Properties, Inc. (the "Tenant"), the national chain with 1,814 locations around the world. This location’s lease is backed by Pasadena, CA-based Dine Brands Global, which is publicly traded (NYSE: DIN).
Tenant is subject to a newly extended lease with 10 years remaining, providing income security through January 2035. The Lease also offers a 5% rental increase in year 6.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,655 SF
Building Class
B
Year Built
1999
Price
£682,865
Price Per SF
£103
Net Initial Yield
11%
NOI
£75,115
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Lot Size
1.79 AC
Zoning
C1P - Commercial
Parking
85 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
91 ft on Skibo Rd
Amenities
- Bus Route
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalised Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0407-98-8561 | Improvements Assessment | £357,110 |
| Land Assessment | £900,459 | Total Assessment | £1,257,569 |
PROPERTY TAXES
Parcel Number
0407-98-8561
Land Assessment
£900,459
Improvements Assessment
£357,110
Total Assessment
£1,257,569
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1935 Skibo Rd
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