42485 E Morgan Ave - Restaurant FOR SALE


Pennington Gap, VA 24277
$1,171,000 USD
470-344-2586
42485 E Morgan Ave, Pennington Gap, VA for Sale
$1,171,000 USD
Restaurant - FOR SALE
1/11
null | 6.15% Cap Rate

42485 E Morgan Ave
Pennington Gap, VA 24277


HIGHLIGHTS

  • New 17-Year Lease | Tasty Hut, LLC - Strong Operator | Annual Rental Increases | Options to Extend
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Signalized, Hard Corner | Strong National/Credit Tenant Presence | Excellent Visibility & Access | Nearby School & Hospital
  • Strong Demographics in 5-mile Trade Area

OVERVIEW

• 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

FOR SALE DETAILS

PRICE

$1,171,000 USD

PRICE/SF

$502 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pizza Hut - Pennington Gap VA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

C

APN/PARCEL ID

23E-(31)-45

ASK ABOUT THIS PROPERTY

Michael BerkSRS Real Estate PartnersMore Info
470-344-2586

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Michael BerkSRS Real Estate PartnersMore Info
470-344-2586

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