Pizza Hut
Retail | 6.75% CAP | 2,890 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Pizza Hut located at 5041 Abbe Road North, Elyria, OH 44035. The site consists of roughly 2,890 rentable square feet of building space on an estimated 0.99-acre parcel of land. This Pizza Hut is subject to a 20-year Triple Net (NNN) Lease, which commenced on 2/22/2022 and has approximately 16 years remaining. The current annual rent is $101,040 and has scheduled increases of 1.75% annually starting 3/1/28.
Investment highlights
Strong Franchisee Guarantee | This lease is guaranteed by SFR XI Holdings LLC, one of the largest Pizza Hut franchisees in the United States with more than +120 locations.
Long-Term Operating History | The subject property benefits from a strong operating history, having successfully operated at this location for over +30 years.
Strong Access and Visibility | This Pizza Hut benefits from strong access and visibility along Abbe Road North, which serves over 24,000 vehicles per day.
Priced Below Development Costs | The subject property features attractive pricing for a quick service restaurant property being priced below development costs at ~$1.49M.
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