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Pizza Hut | 16yr NNN | ±450 Unit Operator 1039 N Bridge St 2,757 SF Retail Building Elkin, NC 28621 $1,108,000 ($401.89/SF) 6.50% Cap Rate
Investment Highlights
- Approximately 16 Years Remaining | 7.5% Increases Every 5 Years
- Strategic Elkin Location | Dense Retail Corridor
- Major Employment and Traffic Drivers Nearby | 81-Bed Hospital
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics and Daytime Population in 5-Mile Trade Area
- Tasty Hut, LLC | 450+ Unit Multi-Brand Restaurant Operator
Executive Summary
SRS National Net Lease 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 Elkin, North Carolina. The tenant has approximately 16 years remaining on its initial lease term with 4 (5-Year) options to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and at the beginning of each option period, 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 an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,757 SF
Year Built/Renovated
2000/2011
Price
$1,108,000
Price Per SF
$401.89
Cap Rate
6.50%
NOI
$72,025
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.98 AC
Zoning
Highway Business
Parking
50 Spaces (18.14 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Monument Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4951-06-49-5367 | Improvements Assessment | $408,160 |
| Land Assessment | $207,810 | Total Assessment | $615,970 |
Property Taxes
Parcel Number
4951-06-49-5367
Land Assessment
$207,810
Improvements Assessment
$408,160
Total Assessment
$615,970
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Pizza Hut | 16yr NNN | ±450 Unit Operator | 1039 N Bridge St
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