Restaurant

Pizza Hut

2040 N University Dr, Pembroke Pines, FL 33024

Listing Price: $940,000

Cap Rate
5.31%
Tenant Name
Pizza Hut
Years Remaining On Lease
4.8
Gross SF
2,540
Guarantor
Franchisee Guarantee
Rentable SF
2,540
Price/Gross SF
$370.08
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.64

Investment Overview

Marcus & Millichap is pleased to present a free-standing Pizza Hut restaurant (take-out and delivery only) located on a heavily-travelled commercial street in Pembroke Pines, Florida. The tenant, Koning Restaurants, International, is a major franchisee of Pizza Hut Corporation and has been in business since 1998. It currently operates 56 Pizza Hut restaurants in Florida. The tenant has been in continuous occupancy at the site since the year 2000. In 2012, the original 20 year term of the lease was extended by the tenant for an additional five years and now expires on October 30, 2025. The tenant has one five year option to renew the lease

The annual rent is only $49,896 ($19.64 per foot) and is significantly below market rents-resulting in a stable and safe income stream and the real opportunity to achieve much higher rents upon the expiration of the current lease.

Pembroke Pines is a city in southern Broward County, Florida , between Miami and Fort Lauderdale . As of 2017, the city had a population of approximately 170,000 making it the second most populous city in the county.

The traffic count at the site on N. University Drive is approximately 27,000 cars per day. The subject Pizza Hut is adjacent to a very busy AMF Bowling Lanes which generates significant business for Pizza Hut. The population within five miles of the subject property is 411,191. In 2014, Money Magazine named Pembroke Pines as one of the best cities in the United States. It is one the primary cities in the Miami Metropolitan Area which has a population in excess of six million. Pembroke Pines is home to major regional shopping malls, life-style centers, Broward Community College, and Florida International University.

Investment Highlights

  • Strong Franchisee Operates 56 Pizza Hut Restaurants
  • Extremely Low Rent = Major Upside In Income
  • Extremely Low Rent = Safety and Stability
  • Located on Busy Commercial Street

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $940,000

Cap Rate
5.31%
Tenant Name
Pizza Hut
Years Remaining On Lease
4.8
Gross SF
2,540
Guarantor
Franchisee Guarantee
Rentable SF
2,540
Price/Gross SF
$370.08
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.64

Investment Highlights

  • Strong Franchisee Operates 56 Pizza Hut Restaurants
  • Extremely Low Rent = Major Upside In Income
  • Extremely Low Rent = Safety and Stability
  • Located on Busy Commercial Street

Investment Overview

Marcus & Millichap is pleased to present a free-standing Pizza Hut restaurant (take-out and delivery only) located on a heavily-travelled commercial street in Pembroke Pines, Florida. The tenant, Koning Restaurants, International, is a major franchisee of Pizza Hut Corporation and has been in business since 1998. It currently operates 56 Pizza Hut restaurants in Florida. The tenant has been in continuous occupancy at the site since the year 2000. In 2012, the original 20 year term of the lease was extended by the tenant for an additional five years and now expires on October 30, 2025. The tenant has one five year option to renew the lease

The annual rent is only $49,896 ($19.64 per foot) and is significantly below market rents-resulting in a stable and safe income stream and the real opportunity to achieve much higher rents upon the expiration of the current lease.

Pembroke Pines is a city in southern Broward County, Florida , between Miami and Fort Lauderdale . As of 2017, the city had a population of approximately 170,000 making it the second most populous city in the county.

The traffic count at the site on N. University Drive is approximately 27,000 cars per day. The subject Pizza Hut is adjacent to a very busy AMF Bowling Lanes which generates significant business for Pizza Hut. The population within five miles of the subject property is 411,191. In 2014, Money Magazine named Pembroke Pines as one of the best cities in the United States. It is one the primary cities in the Miami Metropolitan Area which has a population in excess of six million. Pembroke Pines is home to major regional shopping malls, life-style centers, Broward Community College, and Florida International University.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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