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Pizza Hut 5041 N Abbe Rd 2,890 SF Retail Building Elyria, OH 44035 $1,684,000 ($582.70/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Franchisee Guarantee
- Strong Access and Visibility
- Long-Term Operating History
- Priced Below Development Costs
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Pizza Hut located at 5041 Abbe Road North, Elyria, OH 44035. The site consists of roughly 2,890 rentable square feet of building space on an estimated 0.99-acre parcel of land. This Pizza Hut is subject to a 20-year Triple Net (NNN) Lease, which commenced on 2/22/2022 and has approximately 16 years remaining. The current annual rent is $101,040 and has scheduled increases of 1.75% annually starting 3/1/28.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,890 SF
Building Class
C
Year Built
1991
Price
$1,684,000
Price Per SF
$582.70
Cap Rate
6%
NOI
$101,040
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.99 AC
Frontage
47’ on Abbe Rd
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03-00-001-000-189 | Improvements Assessment | $357,991 |
| Land Assessment | $141,943 | Total Assessment | $499,933 |
PROPERTY TAXES
Parcel Number
03-00-001-000-189
Land Assessment
$141,943
Improvements Assessment
$357,991
Total Assessment
$499,933
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Pizza Hut | 5041 N Abbe Rd
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