Georgetown, KY - Pizza Hut

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, Pizza Hut investment property located in Georgetown, Kentucky. The tenant, Hut Nashville LLC, has 5-years remaining on its lease with 2 (5-year) options to extend. The lease features 8% rental increases at the beginning of each option period, 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 lease is guaranteed by Hut Nashville LLC, a subsidiary of Flynn Group, the largest Pizza Hut operator in the world with 1,200+ locations.

The site has excellent visibility along S. Broadway Street, the primary retail thoroughfare serving the city of Georgetown, supporting 21,100 vehicles passing daily. The thoroughfare features a strong lineup of tenants including Kroger Grocery, ALDI, Walgreens, and fast-food locations such as McDonald’s, Taco Bell, Sonic, Bojangles, and Zaxby’s, all within 1-mile of the subject property. The concentration of national/credit tenants and QSR locations increases consumer draw to the immediate area and promotes crossover retail exposure to the property. Furthermore, the asset is less than 2-miles from Georgetown College, on/off ramps of U.S. Highway 62 (17,000 VPD), and several multi-family and apartment complexes, such as the MarQ and the Southern Oaks Apartments (550+ total units), providing an abundant, ideal consumer base suitable for QSR brands. The 5-mile trade area is supported by a population of over 45,600 residents and 16,100 employees with an average household income
of $102,332. The city of Georgetown is conveniently positioned at a central location in the state, accessible by Interstate 64 and Interstate 75, two major highways connecting the area to the largest cities in the state, Louisville and Lexington.