Pizza Hut - Elyria, OH_Property for Sale
Pizza Hut - Elyria, OH_Property for Sale
1001 East Broad Street, Elyria, OH, 44035, US

Pizza Hut - Elyria, OH

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,987 square foot freestanding, single-tenant Pizza Hut located at 1101 East Broad Street in Elyria, Ohio (“Property” or “Asset”).


The Asset is 100% leased to SFR X Holdings, LLC (“Tenant”) and guaranteed by SFR XI Holdings, LLC (“Guarantor”). SFR XI Holdings, LLC is the 11th largest Pizza Hut franchisee, operating more than 120+ Pizza Hut restaurants across Ohio, Pennsylvania, Indiana, and West Virginia. Pizza Hut is currently operating on a 20.0-year absolute NNN lease, with ±17.6 years remaining, 1.75% annual rent escalations beginning March 1st, 2028, and throughout the six, five-year renewal options.


The Property is strategically positioned in a dense Elyria retail corridor along East Broad Street with direct visibility to more than 15,000 vehicles per day, just west of Ohio State Route 57 (30,000 VPD), and less than two miles south of the Ohio Turnpike (52,000 VPD). Notably, the Property sits nearby Chestnut Common strip center, attracting 4.4 million visits annually and ranking as the #1 most visited strip center in Ohio and in the top 1% of most visited strip centers in the nation.


The Property ranks as the #1 most visited Pizza Hut location out of 7 others within a 10-mile radius. Additionally, the Property ranks in the Top 10% of most visited Pizza Hut locations in Ohio and Top 11% in the nation (Placer.ai). The retail trade area features national tenancy such as Walmart, Anytime Fitness, Petco, Taco Bell, McDonald’s, and Family Dollar, among others.


...

Attributes

Asking price
€1,463,000
Cap rate
6%
NOI
€88,000
WAULT
17.6 years
Building area net
278 m²

Media

Investment Highlights

  • Pizza Hut is on an absolute NNN lease with zero landlord responsibilities, ±17.6 years of remaining lease term, and 1.75% annual escalations starting March 1st, 2028
  • Experienced franchisee with 120+ Pizza Hut Units
  • Top 11% of most visited Pizza Hut locations in the U.S., and #1 out of 7 most visited within a 10-mile radius (Placer.ai)
  • Strategically positioned in a dense Elyria retail corridor along E Broad Street and S Abbe Road with direct visibility to more than 22,000 VPD.
  • Located nearby Chestnut Commons, the #1 most visited strip center in Ohio and top 1% in the nation (Placer.ai)
  • Pizza Hut is the largest chain in the ready-to-eat pizza sector
Pizza Hut - Elyria, OH 4_Property for Sale

Contact brokers

Pizza Hut - Elyria, OH (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
29 Jun 2024