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Restaurant

Pizza Hut

7999 State St, Garrettsville, OH 44231

Listing Price: $1,140,131

Cap Rate
5.00%
Tenant Name
SFR X Holdings, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
3,679
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.50

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 7999 State St, Garrettsville, OH 44231. The site will consist of roughly 3,679 rentable square feet of building space on estimated 0.71-acre parcel of land. The Pizza Hut is subject to a 20-year absolute triple-net (NNN) lease that commenced on 2/22/2022. The initial annual rent will be $57,007 and is scheduled to increase by one-and-three-quarters percent (1.75%) annually starting year seven (7) of the base term and continuing through six (6), five (5)-year renewal periods.

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease that Commenced on February 22, 2022
  • 1.75% Rental Increases Annually Starting Year Seven (7)
  • Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Listing Price: $1,140,131

Cap Rate
5.00%
Tenant Name
SFR X Holdings, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
3,679
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.50

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease that Commenced on February 22, 2022
  • 1.75% Rental Increases Annually Starting Year Seven (7)
  • Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 7999 State St, Garrettsville, OH 44231. The site will consist of roughly 3,679 rentable square feet of building space on estimated 0.71-acre parcel of land. The Pizza Hut is subject to a 20-year absolute triple-net (NNN) lease that commenced on 2/22/2022. The initial annual rent will be $57,007 and is scheduled to increase by one-and-three-quarters percent (1.75%) annually starting year seven (7) of the base term and continuing through six (6), five (5)-year renewal periods.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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