3451 Calumet Ave Manitowoc, WI 54220-5427

Property Details for 3451 Calumet Ave

Lot size

0.65 lot acres

Property type

Commercial real estate

APN

52-725-000-128.00

APU

5272500012800

Description

This exceptional investment opportunity presents a brand-new, fee-simple Pizza Hut located in Manitowoc, Wisconsin. The property boasts a 15-year absolute triple-net (NNN) lease with a highly reputable franchisee, PH Hospitality Group, LLC, a well-established operator with over two decades of experience and plans for significant future expansion in Wisconsin. The 1,327 square foot building, constructed in 2024, sits on a 0.69-acre lot and enjoys a prime location with high traffic counts (20,000+ vehicles per day) at a major intersection. The lease features annual rent increases of 1.5% and includes three and five-year renewal options. The property offers a strong cap rate of 6.25% and a substantial net operating income (NOI) of $95,000. This is a turn-key investment with zero landlord responsibilities, providing a secure and passive income stream. The Manitowoc area offers a robust economy, driven in part by the city's deep-water port, and a strong local population. The franchisee's proven track record and commitment to the community further enhance the investment's appeal. This is a rare opportunity to acquire a high-performing, newly constructed Pizza Hut in a thriving market. The asking price is $1,520,000, representing a price per square foot of $1,145.44. The lease commenced on October 31, 2024, and expires November 1, 2039.

Location Insight

City

Manitowoc

County

Manitowoc

State

Wisconsin

Longitude

-87.6904

Latitude

44.0834

CBSA code

31820

CBSA name

MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments