Using ¼ cup measuring cup, portion batter into skillet.
Cook until edges are set, first side is golden brown, and bubbles on surface are just beginning to break, about 2-3 minutes.
Flip pancakes and continue to cook until the second side is lightly golden brown, about 1-2 minutes longer.
Keep cooked pancakes warm while you finish the rest of the batter, using the remaining butter to grease the skillet as needed.
To make the cream cheese frosting, add cream cheese, granulated sugar, and vanilla to the bowl of your stand mixer, fitted with the paddle attachment. Beat until cream cheese is light and smooth.
Beat in heavy cream until it thickens, around 2 minutes.
1/4 cup heavy cream
Serve pancakes warm topped with a dollop of cream cheese frosting and garnished with toasted nuts.
Notes
Buttermilk: You can use regular or low-fat buttermilk in this recipe. If you don't have buttermilk, you can make a homemade buttermilk substitute.
Vegetable oil: Or a similar neutral oil like canola oil or olive oil.
Flour: It's important to properly measure the flour. I recommend weighing the flour or sifting it, lightly spooning into the measuring cup, and leveling.
Spices: Feel free to adjust the type and amount of spices according to your liking.
Kosher salt: You could use a couple of pinches of table salt instead of kosher salt.
Carrots: I grate the carrot on the smaller hole.
Cream cheese: I recommend using full-fat or reduced-fat cream cheese. I don't recommend using fat-free cream cheese in this recipe.
Granulated sugar: The frosting is lightly sweetened. Feel free to adjust the amount of sugar to taste.
Nuts: The nuts add a great bit of crunch to the pancakes. You can omit them if you want or need to.