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Pizza Hut
1165 Mentor Avenue, Painesville, OH 44077, USA
Sands Investment Group is pleased to exclusively offer for sale the 1,302 SF Pizza Hut Absolute NNN Asset located at 1165 Mentor Avenue in Painesville, OH. This deal includes an Absolute Triple Net (NNN) Lease with annual rent increases (starting March 1, 2028), providing an investor with strong rental growth and zero landlord responsibilities, providing for a unique investment.
- Long-term passive income opportunity with approximately 16.5 years remaining on the base lease term, along with 6 optional 5-year extensions so investors can enjoy a long-term and stable passive income stream; the lease structure ensures financial security and growth potential over the years.
- Absolute Triple Net (NNN) Lease with 1.75% annual rent increases (starting March 1, 2028) provides an investor with strong rental growth with zero landlord responsibilities.
- Leading Pizza Hut franchisee with 120+ locations operated by SFR XI Holdings, LLC, and guaranteed by SFR XI Holdings, LLC, the 11th largest Pizza Hut franchisee in North America, this property benefits from the expertise of a top operator with over 120 units.
- Globally recognized restaurant brand Pizza Hut, part of the Yum! Brands’ family operates close to 20,000 locations globally; in 2023, Pizza Hut’s system-wide sales reached $13.3 billion; meanwhile, Yum! Brands, its parent company, reported system-wide sales totaling approximately $63.8 billion for the same year.
- Ideal 1031 exchange opportunity featuring a low price point.
- Strategically positioned at a signalized hard-corner intersection with 38,000+ VPD and shadow-anchored by a Giant Eagle Market, driving strong synergistic traffic and reinforcing the site’s long-term value.
In Cooperation With ParaSell, Inc. , A Licensed Ohio Broker – Lic. #REC.2020005946 BoR: Scott Reid – Lic. OH #BRKP.2020001224
Pizza Hut
1165 Mentor Avenue, Painesville, OH 44077, USA
PIZZA HUT
Pizza Hut is an American restaurant chain and international franchise, known for its Italian-American cuisine menu, including pizza and pasta, as well as side dishes and desserts. Pizza Hut was founded in June 1958 by two Wichita State University students, brothers Dan and Frank Carney, as a single location in Wichita, Kansas. The company operates more than 19,000 restaurants in more than 100 countries, making it the world’s largest pizza chain in terms of locations. Pizza Hut is a subsidiary of Yum! Brands, Inc., which is one of the world’s largest restaurant companies. The company announced a rebrand that began on November 19, 2014, as an effort to increase sales. The menu was expanded to introduce various items such as crust flavors and eleven new specialty pies. Pizza Hut is split into several different restaurant formats: the original family-style dine-in locations, store front delivery, carry-out locations, and hybrid locations that have carry-out, delivery, and dine-in options. Some full-size Pizza Hut locations have a lunch buffet, with “all-youcan- eat” pizza, salad, breadsticks, and a pasta bar.
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Price
$1,180,569
Cap Rate
6.50%
PREMISES
1,302 SF
RENEWAL OPTIONS
6 x 5 Year Options
Lease Expiration
02/28/2042
Lease Type
Absolute NNN
RENTAL INCREASES
1.75% Annual Bumps Starting 3/1/28
BROKERS
Scott Reid, ParaSell LLC
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Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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