3250 E Main St Richmond, IN 47374
- Turn key restaurants
- 1,107 SF
- 0.32 lot acres
Current Use by Public Records
- Domino's Pizza / Restaurant / Take-out & Catering
- Pizza Hut / Take-out & Catering
Property Details for 3250 E Main St
- Year built
- 2012
- Lot size
- 0.32 lot acres
- Property size
- 1,107 SF
- Zone code
- ZO01
- Property type
- Turn key restaurants
- APN
- 89-16-34-430-116.000-030
- APU
- 891634430116000030
Description
This exceptional investment opportunity presents a fee-simple ownership of a thriving Pizza Hut restaurant located at 3250 E Main St, Richmond, IN 47374. Built in 2012, this 1,084 square foot restaurant sits on a 0.32-acre lot and boasts a strong 11+ year operating history. The property is currently operating under a 20-year Absolute NNN lease, commencing February 22, 2022, and expiring February 28, 2042, leaving 17.3 years remaining. The lease includes annual rent bumps of 1.75% starting in year seven, and six, five-year renewal options. The tenant is a top Pizza Hut franchise operator with over 120 units, providing exceptional financial stability. The property has a 6.00% cap rate and a Net Operating Income (NOI) of $100,000, with a sale price of $1,666,667 ($1,537.52/sq ft). The property benefits from its location in a main retail corridor, demonstrating consistent year-over-year growth. This is a rare opportunity to acquire a well-established, nationally recognized brand with a long-term lease and significant upside potential. The property's 100% occupancy since August 1, 2012, further underscores its consistent performance and desirability.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,125,000
- ML approach
- $1,130,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Wayne
- State
- Indiana
- Longitude
- -84.8572
- Latitude
- 39.8313
- CBSA code
- 39980
- CBSA name
- RICHMOND, IN MICROPOLITAN STATISTICAL AREA
