31736 Casino Dr - Fast Food FOR SALE


Lake Elsinore, CA 92530
$1,866,667 USD
949-725-8606
31736 Casino Dr, Lake Elsinore, CA for Sale
$1,866,667 USD
Fast Food - FOR SALE
1/5
null | 5.25% Cap Rate

31736 Casino Dr
Lake Elsinore, CA 92530


HIGHLIGHTS

  • Dominant International Brand – Pizza Hut, a subsidiary of Yum! Brands, Inc., is the world’s largest pizza restaurant company, with approximately 19,80
  • Proven Operator – Southern PacPizza, the operator and guarantor, is among the largest Pizza Hut franchise groups in the system
  • Strong Historical Occupancy and Sales – Pizza Hut has operated at this location since 1994 and under the current operator since 2012
  • Long Term Absolute NNN Lease – Pizza Hut operates under a 15.5-year Absolute NNN lease (expiring March 2041)
  • Below Market Rent – Pizza Hut’s rent is only $98,000 annually ($34.25 PSF/YR and $2.85 PSF/MO), well below market levels (+25%)

OVERVIEW

* Dominant International Brand – Pizza Hut, a subsidiary of Yum! Brands, Inc., is the world’s largest pizza restaurant company, with approximately 19,800 locations across more than 120 countries * Proven Operator – Southern PacPizza, the operator and guarantor, is among the largest Pizza Hut franchise groups in the system, with 77 locations and nearly 30 years of operating history. The entity of Southern PacPizza itself manages 24 units across Southern California * Strong Historical Occupancy and Sales – Pizza Hut has operated at this location since 1994 and under the current operator since 2012 with proven sales and a low rent-to-sales ratio, strengthening its continued long-term success * Long Term Absolute NNN Lease – Pizza Hut operates under a 15.5-year Absolute NNN lease (expiring March 2041), one of the most hands-off forms of real estate investment with essentially zero landlord obligations or oversight * Below Market Rent – Pizza Hut’s rent is only $98,000 annually ($34.25 PSF/YR and $2.85 PSF/MO), well below market levels (+25% below market) and many comparable high rent quick-service drive-thru restaurants, producing low tenant occupancy costs and future mark-to-market rent potential at lease expiration * Commuter Pit-Stop Destination – Strategically located along the I-15 Freeway – one of the primary routes between the Inland Empire and San Diego, and proximate to a synergistic mix of fast casual and convenience focused retail including McDonalds, In-N-Out Burger, Starbucks, Dutch Bros, Chevron, Denny’s and others

FOR SALE DETAILS

PRICE

$1,866,667 USD

PRICE/SF

$341 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pizza Hut

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

49

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

General Commercial (C-2)

APN/PARCEL ID

363-171-010

ASK ABOUT THIS PROPERTY

John ReadCBREMore Info
949-725-8606

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John ReadCBREMore Info
949-725-8606

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