About This Restaurant
Investment Highlights
Long-Term, 20-Year Absolute Triple Net (NNN) Lease that Commenced on February 22, 2022 Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years 1.75% Rental Increases Annually Starting Year Seven (7)
Executive Summary
The NNN Pro Group is pleased to present the exclusive listing for the Pizza Hut located at 2797 East Waterloo Rd, Akron, OH 44312. The site will consist of roughly 2,529 rentable square feet of building space on estimated 1.00-acre parcel of land. The Pizza Hut is subject to a 20-year absolute triple-net (NNN) lease that commenced on 2/22/2022. The initial annual rent will be $75,058 and is scheduled to increase by one-and-three-quarters percent (1.75%) annually starting year seven (7) of the base term and continuing through six (6), five (5)-year renewal periods.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 2,529
- Building Class C
- Year Built 1975
- Price 1,250,968
- Price Per SF 495
- Cap Rate 6
- NOI 75,058
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.05
- Land Acres 1.14 AC
Amenities
- Signage
Property Taxes
| Parcel Number | 51-09364 | Improvements Assessment | $21,735 |
| Land Assessment | $144,515 | Total Assessment | $166,250 |
| Date Created: | 2024-07-16 04:18:06 | Last Updated: | 2024-07-16 04:18:06 |
| Address: | 2797 E Waterloo Rd , Akron, Ohio, 44312 | ||