1165 Mentor Ave Painesville, OH 44077-1831

This exceptional investment opportunity presents a fee-simple, single-tenant Pizza Hut property located at 1165 Mentor Ave, Painesville, OH 44077. The 1,302 square foot building, constructed in 2008, sits on a 0.43-acre lot and enjoys a prime location at a busy, signalized intersection of Mentor Avenue (US Route 20) and OH-44, boasting high visibility and significant traffic counts (13.9 million annualized). The property is currently 100% occupied under an absolute NNN lease with a strong franchisee guarantee (operator owns over 120 units nationwide). The 20-year lease, commencing February 22, 2022, and expiring February 28, 2042, has a remaining term of approximately 17.3 years. Rent increases of 1.75% annually are built in, starting in year seven, with six, five-year lease options extending the potential lease term to 2073. The asking price is $1,278,950, representing a price per square foot of $982.30 and a 6.00% cap rate with a current NOI of $76,737. The property benefits from its proximity to significant developments, including the new Lake Erie College dormitory, the Victoria Place renovation, and the Grand River Walk mixed-use development. The property is zoned R1. This is a passive income investment with minimal landlord responsibilities.