224 Main St Sterling, CO 80751
- Turn key restaurants
- 4,632 SF
- 0.57 lot acres
Current Use by Public Records
- Pizza Hut / Pizza Delivery / Chicken Wings Restaurant
Property Details for 224 Main St
- Year built
- 1975
- Construction
- WOOD
- Lot size
- 0.57 lot acres
- Property size
- 4,632 SF
- Property type
- Turn key restaurants
- APN
- 38052529336013
- APU
- 38052529336013
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Pizza Hut restaurant located at 224 W Main St, Sterling, CO 80751. The property boasts a highly desirable location on W. Main Street, ensuring excellent visibility and accessibility for customers. The 5,192 square foot building, constructed in 1975 and renovated in 1995, sits on a 0.57-acre lot and includes a convenient drive-thru. The current lease with Pizza Hut has a remaining term of 15 years, providing long-term stability and predictable cash flow. The lease features annual rent increases of 1.50%, offering built-in protection against inflation. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $84,837, resulting in a 6.00% cap rate and a price per square foot of $272.34. The asking price for this exceptional investment is $1,414,000. With 100% occupancy and a long-term lease, this property represents a compelling opportunity for investors seeking a stable, high-performing asset in a thriving market. The property consists of one single-story building.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sterling
- County
- Logan
- State
- Colorado
- Longitude
- -103.215
- Latitude
- 40.6258
- CBSA code
- 44540
- CBSA name
- STERLING, CO MICROPOLITAN STATISTICAL AREA
