Pizza Hut | 1819 W Highway 40
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Pizza Hut 1819 W Highway 40
3,185 SF Retail Building Vernal, UT 84078 $1,915,333 CAD ($601 CAD/SF) 6% Cap Rate
Investment Highlights
- 14 Years Remaining | Options To Extend | Scheduled Rental Increases
- Outparcel to a Walmart Supercenter | Vernal Towne Center |Dense Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net lease Group, LP is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Pizza Hut investment property located in Vernal, Utah. The tenant, Pizza Hut has approximately 14 years of initial term remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The operator, Grand Mere Restaurant Group, operates over 140 locations and is the leading Pizza Hut franchisee. The lease features 1.50% annual rental increases throughout the initial term and the option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,185 SF
Building Class
B
Year Built
1995
Price
$1,915,333 CAD
Price Per SF
$601 CAD
Cap Rate
6%
NOI
$114,944 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.76 AC
Zoning
CP2 - City Planned Commercial
Parking
27 Spaces (8.48 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 05:080:0033 | Improvements Assessment | $398,089 CAD |
| Land Assessment | $381,230 CAD | Total Assessment | $779,319 CAD |
PROPERTY TAXES
Parcel Number
05:080:0033
Land Assessment
$381,230 CAD
Improvements Assessment
$398,089 CAD
Total Assessment
$779,319 CAD
Contacts
-
Michael Berk -
Jarrett Slear -
Patrick Luther -
Patrick Nutt -
SRS Real Estate Partners
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Pizza Hut | 1819 W Highway 40
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