1501 Fairmont Ave Fairmont, WV 26554-2135
Property profile & analytics
1501 Fairmont Ave Fairmont, WV 26554-2135
- Drive through restaurants
- 0.55 lot acres
Property ID
US94-0108195
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Drive through restaurants
Property Details for 1501 Fairmont Ave
- Lot size
- 0.55 lot acres
- Property type
- Drive through restaurants
- APN
- 24-04- 1-0013.0001
- APU
- 2404100130001
Description
This exceptional investment opportunity presents a fee-simple ownership of a thriving Pizza Hut restaurant located at 1501 Fairmont Ave, Fairmont, WV 26554. The property boasts a 2,744 square foot building situated on a 1.7-acre lot, constructed in 2000 and renovated in 2009. Currently operating under a 20-year absolute NNN lease commencing February 22, 2022, and expiring February 28, 2042, this lease offers a substantial 17.3 years of remaining term. The lease includes six, 5-year renewal options and features annual rent bumps of 1.75% starting in year seven. The property enjoys a 100% occupancy rate since February 1, 2009, generating a strong net operating income (NOI) of $62,000, representing a 6.00% cap rate and a price per square foot of $376.58. The asking price is $1,033,333. This high-performing Pizza Hut location benefits from its proximity to Fairmont State University and the WVU Medical Center, contributing to its consistent success and strong operational history. The tenant is a top Pizza Hut franchise operator with over 120 units, ensuring a stable and reliable investment. This is a rare opportunity to acquire a well-established, nationally recognized brand in a prime location with significant long-term growth potential.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Fairmont
- County
- Marion
- State
- West Virginia
- Longitude
- -80.1595
- Latitude
- 39.4647
- CBSA code
- 21900
- CBSA name
- FAIRMONT, WV MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,898
$55,200
$143,340
$198,540
-
$92,000
$238,900
$330,900
