Pizza Hut

1951 West Prospect Road, Ashtabula, OH 44004

$1,666,666

Cap Rate 6.00%

Views: 33 DOM: 93 Updated: 11.11.24 Posted: 08.14.24 Status: Active

Summary

Price $1,666,666	Built/Renov 1985	Tenant Pizza Hut
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,199	Lease Start 02-22-2022	#Units 120
Price/SF $521.00	Expiration 02-28-2042	Tenant Type Fast Casual/Rest.
NOI $100,000	R. Term 17.3	Ownership Fee Simple
Rent/SF $31.26	Increases 1.8%/3/yrs	Pop 5Mi 31,756
Lot/AC 2.71	Options 6/5yrs/1.75%	AHHI 5Mi $60,894

Lease Highlights

Pizza Hut has 17+ years remaining on the current lease term with 6 (5-year) options to extend
The lease features 1.75% annual rental increases starting 2028 throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by SFR XI Holdings LLC (120 units backed)

Location Description

Pizza Hut is strategically located on West Prospect Road, with access to 12,408 vehicles passing by daily. The property is situated near the first signalized intersection off Highway 480, directly across from The Salvation Army. Additionally, it is adjacent to well-known national tenants, including Circle K, Dollar General, Giant Eagle, Big Lots, H&R Block, and more. The area also features key...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strategically located
Highway close
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Annual rent increases
100+ unit franchisee backed

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Links

Pizza Hut Wikipedia Pizza Hut Wikipedia Ashtabula, Ohio Zip Code 44004 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Pizza Hut
Guarantor:Franchisee
Company:SFR XI Holdings LLC
# Units:120
Tenant S&P: BB+
Moody’s: Ba2
Stock: NYSE: YUM

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 segments...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	4,564	24,623	29,393
2024 Total Population :	4,666	25,092	29,990
2024 Employed Civilian Pop :	1,842	10,207	12,257
2024 Total Businesses :	147	906	1,193
2024 Average Household Income :	$ 52,964	$ 65,139	$ 67,665
2024 Total Consumer Spending :	$ 90 M	$ 636 M	$ 795 M
2024 Median Age :	38	43	44
2024 Total Households :	1,885	10,820	13,042
2024 Pop Age 25+: Bachelor's Degree :	151	1,942	2,296
2024 Average Home Value :	$ 131,362	$ 159,798	$ 173,571

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Prospect Rd	Dunbar Ave	2003	13,490	0.07 mi
W Prospect Rd	Stark Ave	2012	12,180	0.42 mi
Woodman Avenue	Virginia Ave	2021	1,880	0.51 mi
West Prospect Road	Reed Ave	2021	15,929	0.57 mi
West Avenue	W 57th St	2021	5,362	0.77 mi
West Prospect Road	West Ave	2021	13,537	0.81 mi
W Prospect Rd	Cornell Ave	2012	13,075	0.88 mi
South Ridge Road West	Bunker Hill Rd	2021	4,324	0.90 mi
Griswold Road	W 30th St	2021	212	0.91 mi
West Avenue	W 38th St	2021	9,197	0.91 mi

Listing Broker

Dan Hoogesteger

Sands Investment Group

Contact

24 Listings
1597 Views
3 Sold

Scott Reid

ParaSell, Inc

Contact

35 Listings
2035 Views
5 Sold

Dan Hoogesteger

Daniel S. Hoogesteger is the Managing Director of SIG’s West Coast headquarters in Santa Monica, CA. Prior to being a founding member of SIG, Daniel began his career in 2002 at Faris Lee Investments and has a tenured resume at firms including Marcus & Millichap & CB Richard Ellis. His resume includes representing many of the largest institutional, private capital & development companies in the acquisition & disposition of commercial real estate assets. Daniel leads SIG’s big

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Scott Reid

ParaSell, Inc. is a national real estate services and consulting firm that specializes in commercial leasing and investment sales. We work with principals across the nation and have a proven process, proprietary time-saving technology, dedicated support staff and a relentless commitment to customer service.

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Austin Eastman

Sands Investment Group

Contact

8 Listings
399 Views
1 Sold

Max Freedman

Sands Investment Group

Contact

60 Listings
3981 Views
8 Sold

Austin Eastman

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

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Max Freedman

Max Freedman is a recognized industry leader focused on the Restaurant/C-Store real estate, heads the Austin office and the SIG Restaurant Group. Max is a founding partner and opened the first SIG office in Santa Monica, CA in 2009, with Chris Sands. He has excelled in building the company’s team culture and strategies you see today. Max has a strong team mentality and has had an integral part in recruiting several agents to Sands Investment Group. SIG’s restaurant group consists of nine agen

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