1951 W Prospect Rd Ashtabula, OH
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Long-term Pizza Hut NNN lease with rental increases.
Type:RETAIL
Property size:
3,199 SFLot size:
2.90 AcresPrice / SF:
$500/SF- Added:
- Jul 31, 2024
- Days on Market:
- 639
- Last Refresh:
- Apr 5 at 11:03 pm
Property Features for 1951 W Prospect Rd
General Information
- Standard status
- Active
- Size
- 3,199 SF
- Lot size
- 2.90 Acres
- Property subtype
- RETAIL
Listing agent Daniel Hoogesteger (310) 853-1419
Listing office Sands Investment Group (SIG) | Fort Lauderdale (310) 853-1419
Listing date Jul 31, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Sands Investment Group (SIG) | Fort Lauderdale
Overview
Pizza Hut NNN Investment Opportunity
This property presents a long-term passive income opportunity with approximately 18 years remaining on the base lease term, along with six optional five-year extensions. The absolute NNN lease, featuring annual rent increases starting March 1, 2028, provides strong rental growth with zero landlord responsibilities. The tenant, a leading Pizza Hut franchisee with over 120 locations operated by SFR XI Holdings, LLC, and guaranteed by SFR XI Holdings, LLC, is the 11th largest Pizza Hut franchisee in North America. This globally recognized Pizza Hut restaurant brand, part of the Yum! Brands family, operates close to 20,000 locations globally. In 2023, Pizza Hut’s system-wide sales reached $13.3 billion, while Yum! Brands reported system-wide sales totaling approximately $63.8 billion for the same year. The property, with a size of 3199 square feet, is located at the first signalized intersection off Highway 480, across from a Giant Eagle grocery shopping center. This is a pandemic, recession, and internet-resistant tenant, providing a secure and passive investment opportunity. It is also an ideal 1031 exchange opportunity featuring a low price point.
Location Intelligence
Current Use by Public Records
Pizza Hut
Take-out & Catering
Location Insight
- Map
- Local Demand
- City
- Ashtabula
- County
- Ashtabula
- State
- Ohio
- Longitude
- -80.81
- Latitude
- 41.8578
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FAQs
What type of property is this?
Drive through restaurant - Long-term Pizza Hut NNN lease with rental increases.
Where is this drive through restaurant located?
The property is located at 1951 W Prospect Rd Ashtabula, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Long‑term passive income opportunity with approximately 18 years remaining on the base lease term and six (6) optional five‑year extensions.; Absolute NNN lease with annual rent increases (starting March 1, 2028) provides strong rental growth with zero landlord responsibilities.; Guaranteed by SFR XI Holdings, LLC, the 11th largest Pizza Hut franchisee in North America with 120+ locations.
