Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 2880 East Harbor Rd, Port Clinton, OH 43452. The site will consist of roughly 3,607 rentable square feet of building space on estimated 0.86-acre parcel of land. The Pizza Hut is subject to a 20-year absolute triple-net (NNN) lease that commenced on 2/22/2022. The initial annual rent will be $40,224 and is scheduled to increase by one-and-three-quarters percent (1.75%) annually starting year seven (7) of the base term and continuing through six (6), five (5)-year renewal periods.
Long-Term, 20-Year Absolute Triple Net (NNN) Lease that Commenced on February 22, 2022
1.75% Rental Increases Annually Starting Year Seven (7)
Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years
Franchisee Guarantee from SFR XI Holdings, LLC –Approximately 120+ Units
Certain principals of the selling entity, including but not limited to Glen Kunofsky and Nicoletti DePaul, are Exclusive Listing Agents and part fee-simple owners of the property. See back page for full disclosure.