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Pizza Hut 3490 Colorado Ave

1,155 SF Retail Building Lorain, OH 44052 $2,226,732 CAD ($1,928 CAD/SF) 6% Cap Rate

Restaurants Ohio Lorain 3490 Colorado Ave, Lorain, OH 44052

Investment Highlights

  • Globally Recognized Restaurant Brand
  • ±17.5 Years of Term Remaining with Renewal Options
  • 14+ Year Operating History with New 20-Year Lease
  • Top Pizza Hut Franchise Operator (120+ Units)
  • Absolute NNN Lease and 2022 Renovation
  • Drive-Thru Location with Impressive YoY Sales Growth

Executive Summary

The Property underwent a major renovation in 2022, enhancing its modern appeal and operational efficiency. The location boasts an outstanding year-over-year sales growth of over 19%, significantly outpacing industry averages. The inclusion of a drive-thru significantly boosts sales by catering to customers looking for quick, convenient service.
In association with: Rob Gemerchak, OH Lic #BRKP.2019006339

Property Facts Under Contract

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,155 SF
Building Class
B
Year Built/Renovated
2010/2022
Price
$2,226,732 CAD
Price Per SF
$1,928 CAD
Cap Rate
6%
NOI
$133,604 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.21 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • Signage
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Accommodation and Food Services
  • -
  • -
  • -

There’s nothing cookie-cutter about Pizza Hut. Not their pizzas. Not their people. And definitely not the way they live life. Around here, they don’t settle for anything less than food they are proud to serve. And they don’t just clock in. Not when they can also become their best, make friends, and have fun while they're at it. They're the pizza company that lives life unboxed. They are not for people who want to blend in: pushing boundaries is part of their heritage. They have thousands of restaurants and many team members in multiple countries. Whether it’s the original Stuffed Crust or putting a pizza in outer space, they never stop driving themselves to deliver hot pizzas, fast every time – anywhere one wants to enjoy it. At Pizza Hut, they don’t just make pizza. They make people happy. Pizza Hut was built on the belief that pizza night should be special, and they carry that belief into everything they do.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Accommodation and Food Services - - -

Links

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PROPERTY TAXES

Parcel Number 03-00-057-112-024 Improvements Assessment $371,686 CAD
Land Assessment $33,338 CAD Total Assessment $405,024 CAD

PROPERTY TAXES

Parcel Number
03-00-057-112-024
Land Assessment
$33,338 CAD
Improvements Assessment
$371,686 CAD
Total Assessment
$405,024 CAD
(918) 794-9536

Contact

  • Listing ID: 33273649

  • Date on Market: 2024-09-23

  • Last Updated:

  • Address: 3490 Colorado Ave, Lorain, OH 44052

The Retail Property at 3490 Colorado Ave, Lorain, OH 44052 is currently available for sale. Contact Northmarq for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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Pizza Hut | 3490 Colorado Ave
(918) 794-9536 x

Pizza Hut | 3490 Colorado Ave

Mark Grossman

(918) 794-9536

(918) 794-9536

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