Restaurant
Pizza Hut
2300 Cooper Foster Rd, Lorain, OH 44053
Listing Price: $2,286,952
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 2300 Cooper Foster Rd, Lorain, OH 44053. The site will consist of roughly 3,188 rentable square feet of building space on estimated 1.00-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 $122,352 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: $2,286,952
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease that Commenced on February 22, 2022
- There are 1.75% Rental Increases Annually Starting Year Seven
- Six , Five -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 2300 Cooper Foster Rd, Lorain, OH 44053. The site will consist of roughly 3,188 rentable square feet of building space on estimated 1.00-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 $122,352 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
