5571 Sunset Blvd
Lexington, SC 29072
IHOP · Retail Property For Sale

The subject property is a 4,972 +/- square foot freestanding NNN IHOP located in Lexington, SC, approximately 15 miles west of the state's capital and the largest city of South Carolina, Columbia. The tenant, South Carolina Investment 5, Inc., signed a 20-year NNN Lease with 10% increases every five years in May 2007. The tenant currently operates 10 IHOPs throughout the Southeast and has been a franchisee for over 15 years. Before becoming a franchisee, the tenant was the IHOP operations director for the southeast for many years. IHOP, founded in 1958, has grown to become a leading Family Dining brand with more than 1,684 restaurants in 50 states. The IHOP sits in Lexington's main commercial corridor with signage on Sunset Boulevard (2015 ADT of 31,000 +/-). National retailers in the immediate area include: Walmart Supercenter, Home Depot, Publix, Kohl's, Lowe's, Ross, T.J.Maxx, Food Lion, Stein Mart, Tractor Supply, CVS, and a new development called WellMore which will consist of 90 assisted care units, 48 memory care units, 48 skilled nursing units, and 14 independent cottage homes. The subject property is in a strong demographic area, with the 1, 3, and 5-mile population expected to increase approximately 9% over the next five years and a high average household income over $96,000 in the one-mile radius and over $91,000 in the three-mile radius. Lexington County is the 5th largest county, and is the 3rd fastest growing in the state. Columbia enjoys a diversified economy, with the major employers in the area being SCANA Energy, South Carolina state government, the Palmetto Health hospital system, BCBS of South Carolina, Palmetto GBA, and the University of South Carolina. The University of South Carolina, the states flagship and largest University, has an enrollment of over 33,000 students on the main campus.