2300 Cooper Foster Park Rd W - Restaurant FOR SALE


Lorain, OH 44053
$1,882,000 USD
216-381-8200
2300 Cooper Foster Park Rd W, Lorain, OH for Sale
$1,882,000 USD
Restaurant - FOR SALE
1/5
null | 6.5% Cap Rate

2300 Cooper Foster Park Rd W
Lorain, OH 44053


HIGHLIGHTS

  • Pizza Hut (Yum! Brands, Inc. Subsidiary), is the Largest Worldwide Ready-to-Order Pizza Chain
  • Absolute NNN Lease Provides a Passive Income Stream
  • 17 Years Remaining on Fresh 20 Year Base Lease Term
  • Annual Rental Increases of 1.75% Begin March 1, 2028 and Creates Growing NOI and a Hedge Against Inflation

OVERVIEW

For sale to qualified investors is the fee simple interest in an absolute net lease with one of the largest Pizza Hut franchisees in North America, SFR X Holdings, LLC. In 2022 the company completed their purchase of over 120 Pizza Hut Restaurants in the Midwest and showed their commitment to the brand by executing a new 20 year, absolute triple net lease for the Amherst location at that time. The lease has 17 years of guaranteed base term remaining and features ANNUAL increases of 1.75% beginning March 1, 2028, boosting return each year and hedging against future inflation. The lease also has six option terms of 5 years each, bringing the total potential remaining lease term to 47 years. The building sits on 1 acre of prime retail land adjacent to Chase Bank and Sherwin Williams in a thriving and growing retail marketplace.

FOR SALE DETAILS

PRICE

$1,882,000 USD

PRICE/SF

$590 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

02-02-003-103-031

ASK ABOUT THIS PROPERTY

Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.