Sidney, NY - Pizza Hut

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Pizza Hut investment property located in Sidney, New York. The tenant, Tasty Huts NE, LLC, recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.5% annual rental increases beginning in year 6 of the initial term, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. With more than 50 units, Tasty Huts Northeast, LLC is an experienced operator and a sub-entity of Tasty Huts, which is a subsidiary of Tasty Restaurant Group.

The subject property benefits from direct on/off ramp access to Interstate 88 (11,100 VPD) and State Highway 8 (7,600 VPD), and features excellent visibility via significant street frontage and a large pylon sign. Nearby national/credit retail tenants include Dollar General, Tractor Supply Co, Super 8 Hotel, Advance Auto Parts, McDonald’s, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by 9,147 residents and 5,605 employees, providing a direct consumer base from which to draw.