802 Seneca Ave Newcastle, WY 82701
- Turn key restaurants
- 3,250 SF
- 0.45 lot acres
Current Use by Public Records
- Pizza Hut / Chicken Wings Restaurant / Pizza Restaurant
Property Details for 802 Seneca Ave
- Year built
- 1981
- Lot size
- 0.45 lot acres
- Property size
- 3,250 SF
- Property type
- Turn key restaurants
- APN
- 45612830000900
- APU
- 45612830000900
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Pizza Hut located at 802 S Seneca Ave, Newcastle, WY 82701. The property boasts a prime location directly off U.S. Highway 16, ensuring excellent visibility and accessibility for customers. Built in 1981, this 0.55-acre site features a single-story, 100% occupied building. The current lease agreement with Pizza Hut has 14.7 years remaining, providing long-term stability and predictable cash flow. The lease includes annual rent bumps of 1.50%, offering built-in protection against inflation. The property generates a substantial net operating income (NOI) of $68,788, resulting in an attractive 6.50% cap rate. The asking price is $1,058,273. This is a rare opportunity to acquire a well-established, high-performing QSR/Fast Food property in a desirable location with significant upside potential. The property's strong tenant, long lease term, and prime location make it an ideal addition to any investment portfolio. The absolute NNN lease structure minimizes landlord responsibilities, further enhancing the investment's appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newcastle
- County
- Weston
- State
- Wyoming
- Longitude
- -104.197
- Latitude
- 43.8488
- CBSA code
- 23940
- CBSA name
- GILLETTE, WY MICROPOLITAN STATISTICAL AREA
