Current Use by Public Records
- Pizza Hut / Take-out & Catering
Property Details for 1201 Milbank Ave
- Year built
- 1984
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 2,100 square foot Pizza Hut restaurant located at 1201 E Milbank Ave, Milbank, SD 57252. The property, built in 1984, boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $30,000. Currently operating under a single-tenant, absolute NNN lease with a seasoned franchisee, the lease features four remaining options and expires on December 31, 2032, providing a remaining lease term of approximately 8.1 years. The lease includes annual rent increases of 1%. The asking price is $428,500, translating to a price per square foot of $204.05. The property enjoys 100% occupancy and presents a compelling sale-leaseback opportunity with seller financing available. This is a rare chance to acquire a well-established, passively managed income stream in a stable market. The property is situated in Grant County, South Dakota.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milbank
- County
- Grant
- State
- South Dakota
- Longitude
- -96.6181
- Latitude
- 45.223
