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Pizza Hut

Port Clinton, Ohio

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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.

Key Details

Cap Rate:
Annual Rent:
2880 East Harbor Rd, Port Clinton, Ohio 43452
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
February 22, 2022
Lease Expiration:
February 28, 2042
Rental Increases:
1.75% Annually, Starting Year Seven (7)
Lot Size:
0.86 Acres
Building Size:
3 SF
Pizza Hut

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Ryan Sblendorio

License: 10401309105

John Winslow

License: 10401334977

Howard Curd

License: 10401339720

Broker of record

Michael Glass

License: BRK.2007005898

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