New Lexington, OH - Pizza Hut

Description:

SRS National Net Lease Group, LP 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 New Lexington, Ohio. The tenant, ADT Ohio, LLC, has approximately 9 years remaining on its lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.25% annual rental increases throughout the initial term and option periods, 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 a passive investor.

The Pizza Hut is located near the signalized, hard-corner intersection of East Broadway St and Carroll St, combining to average over 10,500 vehicles passing by daily. Carroll St is a major retail thoroughfare serving the city of New Lexington. The property is located within walking distance to an 84,000+ square foot shopping center, featuring a Kroger. The asset is also within walking distance to Taco Bell, Wendy’s, McDonald’s, and more. The Pizza Hut is located approximately 56 miles from Columbus, Ohio, the most populous city in all of Ohio. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Advance Auto Parts, AutoZone Auto Parts, Circle K, Subway, Family Dollar, and more, further increasing consumer traffic to the site. The subject property is in close proximity to New Lexington High School, which has an enrollment of over 480 students. The 5-mile trade area is supported by a population of over 9,400 with an average household income of $72,570.