Restaurant
Pizza Hut
7999 State St, Garrettsville, OH 44231
Listing Price: $1,140,131
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
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Listing Price: $1,140,131
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
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
