335 E White Horse Pike
Absecon, NJ 08205
Pizza Hut · Retail Property For Sale

Marcus & Millichap is pleased to exclusively list for sale a 3,675 SF single tenant Pizza Hut located in Galloway, (Atlantic County) New Jersey. Located on 0.82 Acres, Pizza Hut has 10+ years remaining on their NNN lease. Pizza Hut has 4 - Five year options with 1.5% annual increase throughout the option periods. The Pizza Hut has been established in this location for 3+ year. Pizza Hut is a subsidiary of Yum! Brands, which has a credit rating of Ba3 and a stable future outlook according to Moody's. The lease is personally guaranteed by a 16-unit operator. Galloway is a township located in Atlantic County, New Jersey. The subject property is approximately 12 miles northwest of Atlantic City and approximately 90 miles southwest of New York City. Galloway shares its borders with the municipalities of Egg Harbor City, Port Republic, Absecon, Brigantine, Pleasantville, and Bass River. The major roads and highway that pass through or near Galloway are Route 30 (White Horse Pike), the Garden State Parkway, Atlantic City expressway, Route 9, Route 40, Route 87, CR-50 and CR-322. Galloway is the largest municipality in New Jersey in terms of land area. New Jersey Transit provides bus service to Atlantic City on bus routes 508, 554 and 559. The subject property is approximately 3 miles east of Atlantic City International Airport. Within a 5-mile radius of Galloway, the median household income is $58,884 among the 79,060 individuals who resides within a 5-mile radius of the subject property. The asking price of $1,425,000 represents a 7.07% cap rate.