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Pizza Hut

Canal Fulton, Ohio

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Marcus & Millichap is pleased to present the exclusive listing for the Pizza Hut located at 2230 Locust St South, Canal Fulton, OH 44614. The site will consist of roughly 1,926 rentable square feet of building space on estimated 0.78-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 $39,658 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

Price:
$834,907
Cap Rate:
4.75%
Annual Rent:
$39,658
Address:
2230 Locust St South, Canal Fulton, Ohio 44614
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
2/22/22
Lease Expiration:
2/28/42
Rental Increases:
1.75% Annually, Starting Year Seven (7)
Lot Size:
0.78 Acres
Building Size:
1,926 SF
Tenant:
Pizza Hut

Broker of record

Michael Glass

License: BRK.2007005898


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