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Views: 11 DOM: 13 Updated: 09.12.24 Posted: 09.03.24 Status: Active

Summary

Price $2,181,818
Built/Renov 1975
Tenant Pizza Hut
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,561
Lease Start 10-01-2024
#Units 211
Price/SF $851.94
Expiration 10-01-2044
Tenant Type Fast Casual/Rest.
NOI $120,000
R. Term 20.0
Ownership Fee Simple
Rent/SF $46.86
Increases 1.5%/1/yrs
Pop 5Mi 223,854
Lot/AC 0.64
Options 4/5yrs/1.5%
AHHI 5Mi $198,705

Lease Highlights

  • Brand new 20-year lease with 4 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tasty Hut, LLC (211 units backed)

Location Description

Pizza Hut is strategically located on Elden Street, with access to 37,741 vehicles passing by daily. The property is surrounded by well-known national tenants, including CVS Pharmacy, 7-Eleven, Wells Fargo, PNC, Starbucks, and more. Key educational institutions nearby include Herndon High School, Herndon Middle School, Dranesville Elementary School, among others. The 5-mile trade area supports...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Pizza Hut is an American restaurant chain and international franchise that specializes in the sale of ready-to-eat pizza products and operates in the delivery, carryout, and casual dining...


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Listing Broker

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