Pizza Hut - Elyria, OH

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.