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Pizza Hut | NNN Lease | ±13 Years Remaining 322 S 2nd St 2,472 SF Retail Building Canadian, TX 79014 $989,520 ($400.29/SF) 7.50% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease | ±13 Years Remaining
- Prime Position Along U.S. Route 83 | Canadian’s Main Commercial Corridor
- High-Performing Trade Area With Strong Household Incomes
- Established Pizza Hut Location Operated by Experienced Franchisee (±126-Units)
- Stable Rural Market Supported by Energy, Ranching & Local Services
Executive Summary
Marcus & Millichap is pleased to offer a long-term absolute NNN lease to Pizza Hut at 322 S 2nd St, Canadian, TX, an established Panhandle commercial corridor supported by regional highway traffic, energy activity, ranching, and local services. The property provides ±13 years of remaining primary term, backed by Grand Mere Restaurant Group, a proven ±126-unit Pizza Hut franchisee operating across nine states. The lease includes 1.5% annual rent increases, delivering consistent income growth and fully passive ownership with zero landlord responsibilities.
Strategically positioned along U.S. Route 83, Canadian’s primary north–south arterial, the site benefits from strong visibility, convenient access, and steady traffic patterns generated by local residents, workforce housing, schools, and regional travel. The corridor is anchored by essential service businesses, hospitality, civic uses, and energy-related employment, reinforcing stable consumer demand for delivery- and carryout-oriented QSR concepts.
This long-operating Pizza Hut location demonstrates durable performance and entrenched market presence within the Hemphill County trade area. With a 7.50% cap rate, strong franchisee guarantee, and predictable rent growth, the asset offers investors a high-yield, low-management net-lease opportunity in a stable regional market with consistent economic drivers.
Strategically positioned along U.S. Route 83, Canadian’s primary north–south arterial, the site benefits from strong visibility, convenient access, and steady traffic patterns generated by local residents, workforce housing, schools, and regional travel. The corridor is anchored by essential service businesses, hospitality, civic uses, and energy-related employment, reinforcing stable consumer demand for delivery- and carryout-oriented QSR concepts.
This long-operating Pizza Hut location demonstrates durable performance and entrenched market presence within the Hemphill County trade area. With a 7.50% cap rate, strong franchisee guarantee, and predictable rent growth, the asset offers investors a high-yield, low-management net-lease opportunity in a stable regional market with consistent economic drivers.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,472 SF
Building Class
C
Year Built/Renovated
1978/1995
Price
$989,520
Price Per SF
$400.29
Cap Rate
7.50%
NOI
$74,214
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.31 AC
Zoning
C
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05065-00023-01301-000000 | Improvements Assessment | $98,700 |
| Land Assessment | $24,600 | Total Assessment | $123,300 |
Property Taxes
Parcel Number
05065-00023-01301-000000
Land Assessment
$24,600
Improvements Assessment
$98,700
Total Assessment
$123,300
Contacts
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Jason Fefer -
Jeni Tran -
Tyler Bindi -
Robert Narchi -
Timothy Speck -
Marcus & Millichap
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