Building Details

Tenancy Single

Listing Agency: SURMOUNT g***@nnnpro.com Show Phone

Listed By: Glen Kunofsky · License #NY 49KU1129178

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Jul 23 at 2:56PM

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Investment Insights

Based on property information with market context.

Marcus & Millichap is pleased to present the exclusive listing for a Pizza Hut at 544 Water St in Chardon, Ohio. The site includes approximately 2,827 rentable square feet of building space on an estimated 1.55-acre parcel.

The property is subject to a 20-year absolute triple-net (NNN) lease that commenced on 2/22/2022. The initial annual rent is $55,577, with scheduled increases of 1.75% annually starting in year seven of the base term and continuing through six (6) five-year renewal periods.

This is an NNN retail investment anchored by a single-tenant quick-service restaurant lease structure, offering a long-term, contractually defined income stream under absolute triple-net terms.

Key Highlights

• Pizza Hut at 544 Water St, Chardon, OH 44024, offered for sale with a 20‑year absolute triple‑net (NNN) lease in place
• Lease commenced 2/22/2022 (20‑year absolute NNN term)
• Building offers roughly 2,827 rentable SF on an estimated 1.55‑acre parcel

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Building Supply Pharmacy Parking Lot & Garage Hair Salon Nail Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

627

Businesses Nearby

35k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Shops & Services 34% Apparel 24% Home Improvements & Furnishings 2%

Goodwill Apparel

8,371 visits/mo 0.4 miles

Pet Supplies Plus Shops & Services

8,218 visits/mo 0.4 miles

Arby's Dining

7,397 visits/mo 0.4 miles

Jersey Mike's Subs Dining

5,307 visits/mo 0.4 miles

KeyBank Shops & Services

2,051 visits/mo 0.4 miles

Demographics for 44024, OH

23,795

Population

9,560

Households

2.5

Avg Household Size

47

Median Age

35%

College-Educated

96%

High-School Grad

90.0 sq mi

ZIP Area

264

Density / Sq Mi

$104,808

Median Household Income

$50,444

Median Earnings

$1,022

Median Rent

$298,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Pizza Hut is offered for sale with a 20-year absolute triple-net lease in place, commenced February 22, 2022.

Where is this retail space located?

The property is located at 544 Water St Chardon, OH.

What are key features of this property?

This property features: Pizza Hut at 544 Water St, Chardon, OH 44024, offered for sale with a 20‑year absolute triple‑net (NNN) lease in place; Lease commenced 2/22/2022 (20‑year absolute NNN term); Building offers roughly 2,827 rentable SF on an estimated 1.55‑acre parcel