Pizza Hut Absolute NNN
For Sale
$1,840,890
250 S Akers St., Visalia, CA 93291
Tenant handles taxes, insurance, and all structural and non-structural maintenance under the lease.
Property Size3,448 SF
Days on Market70
Property Features for 250 S Akers St.
General Information
Standard status
Active
Size
3,448 SF
Property subtype
Retail
Net Operating Income
$101,249
Site & Location
Traffic Count
62,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,448 SF
Year Built
2004
Listing Agency:
(626) 632-3886
Listed By:
Angel Lei · License #CA LIC #2254994
(626) 632-3886
Source:
Alphare
Added: Jun 24
Changed: Aug 31
Last Checked: Sep 1 at 4:07PM
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 Angel Lei
Investment Insights
Based on property information with market context.
Built in 2004, this Pizza Hut property is subject to an absolute NNN lease that assigns real estate taxes, insurance, and both structural and non-structural maintenance to the tenant. The lease was recently executed for a 15.5-year initial term and includes four five-year renewal options, with 10% rent increases scheduled every five years.
The site is positioned at the S. Akers Street interchange with State Route 198 in Visalia, placing it near freeway exit traffic and surface-street commuters. Reported traffic volume is approximately 62,800 VPD. Pizza Hut is operated by Southern PacPizza, which has 77 locations and nearly 30 years of operating history; the operator guarantees and manages 24 units across Southern California.
The site is positioned at the S. Akers Street interchange with State Route 198 in Visalia, placing it near freeway exit traffic and surface-street commuters. Reported traffic volume is approximately 62,800 VPD. Pizza Hut is operated by Southern PacPizza, which has 77 locations and nearly 30 years of operating history; the operator guarantees and manages 24 units across Southern California.
Key Highlights
- Absolute NNN lease shifts taxes, insurance, and structural and non‑structural maintenance to the tenant
- Recently executed 15.5‑year lease with 4 five‑year renewal options
- 10% rent escalations scheduled every five years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,054,600
$1.1M
Cap Rate 7%
$753,286
$753.3K
Cap Rate 9%
$585,889
$585.9K
Market Conditions
NOI Build-Up for 3,448 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.5K $21.60/SF
− Vacancy
−$4.2K −$1.21/SF
EGI
$70.3K $20.39/SF
− OpEx
−$17.6K −$5.10/SF
NOI
$52.7K $15.29/SF
Area
Visalia, CA
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,054,600
Cap Rate 7%
$753,286
Cap Rate 9%
$585,889
Alternative Uses
Best Use
Specialty Retail
$753.3K
$659.1K – $878.8K
NOI $52,730 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.6K
$826.5K – $1.10M
NOI $66,119 @ 7.0% cap · market cap 3.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
62,800 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
162k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 19%
Hotels & Casinos 7%
Electronics 1%
Taco Bell
Dining
17,384 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
17,222 visits/mo
0.4 miles
Denny's
Dining
16,088 visits/mo
0.2 miles
Applebee's
Dining
15,555 visits/mo
0.2 miles
Panda Express
Dining
13,089 visits/mo
0.4 miles
Demographics for 93291, CA
63,366
Population
19,866
Households
3.2
Avg Household Size
32
Median Age
24%
College-Educated
81%
High-School Grad
84.2 sq mi
ZIP Area
753
Density / Sq Mi
$81,502
Median Household Income
$41,778
Median Earnings
$1,331
Median Rent
$381,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Tenant handles taxes, insurance, and all structural and non-structural maintenance under the lease.
Where is this nnn property located?
The property is located at 250 S Akers St. Visalia, CA.
What is the asking price?
The asking price for this property is $1,840,890.
What are key features of this property?
This property features: Absolute NNN lease shifts taxes, insurance, and structural and non‑structural maintenance to the tenant; Recently executed 15.5‑year lease with 4 five‑year renewal options; 10% rent escalations scheduled every five years
