Clintwood, VA - Pizza Hut
$1,220,000
5180 Dickenson Highway, Clintwood, VA 24228
6.15
Cap Rate
75,000
NOI
Details:
Description:
• The tenant, Tasty Hut, LLC, has entered into a brand new 17 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• Tasty Restaurant Group, LLC is an experienced QSR franchisee with over 450 restaurants strong across 23 states operating under six iconic brands: Pizza Hut, Burger King, Dunkin’, Baskin-Robbins, Kentucky Fried Chicken and Taco Bell brands
• The lease features annual rental increases of 1.50% throughout initial term and option periods, generating NOI and hedging against inflation
• The subject property is located along Dickenson Highway which averages 7,600 vehicles passing by daily
• The site is located near multiple national/credit tenants including Advance Auto Parts, Dollar General, Taco Bell, Family Dollar, NAPA, Food City, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• Furthermore the asset is in close proximity to Dickenson Community Hospital (25-beds) and Clintwood Elementary School (423 students), further increasing consumer traffic to the immediate trade area
Location
Gallery
