Restaurant
Pizza Hut
3250 E Main St, Richmond, IN 47374
Listing Price: $1,414,950
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 3250 East Main St, Richmond, IN 47374. The site will consist of roughly 1,084 rentable square feet of building space on estimated 0.32-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 $84,957 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
Listing Price: $1,414,950
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 3250 East Main St, Richmond, IN 47374. The site will consist of roughly 1,084 rentable square feet of building space on estimated 0.32-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 $84,957 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
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Josh Caruana
First Vice President/District Manager
