Pizza Hut
Midland, TX
Key Details
| Price: | $1,336,651 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $76,857 |
| Address: | 427 Andrews Highway, Midland, Texas 79701 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/29/2018 |
| Lease Expiration: | 10/28/2033 |
| Lease Term Remaining: | 8.8 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.50 Acres |
| Building Size: | 2,639 SF |
| Year Built: | 1964 |
NNN Pro is pleased to present the exclusive listing for a Pizza Hut located at 427 Andrews Highway, Midland, Texas 79701. The site consists of roughly 2639 rentable square feet of building space on an estimated 0.5-acre parcel of land. This Pizza Hut is subject to a 15-year Triple Net (NNN) lease, which commenced 10/29/2018. The current annual rent is $76,857 and has scheduled increases of 1.25% Annually.
About the Investment
- Strong Unit Performance | Sales well above national average with low Rent-to-Sales ratio.
- Strong Franchise Guarantee | Lease guaranteed by ADT Pizza, LLC which operates over 200 locations throughout the Southeast and Texas.
- Absolute Triple Net (NNN) Lease with Attractive Annual Rent Increases | The lease features no landlord responsibilities, making this an ideal passive investment. Additionally, the lease features attractive annual rent increases of 1.25%, providing a hedge against inflation.
- Income Tax Free State | Texas does not levy a state income tax, providing extra incentive to invest in the state.
Key Details
| Price: | $1,336,651 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $76,857 |
| Address: | 427 Andrews Highway, Midland, Texas 79701 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/29/2018 |
| Lease Expiration: | 10/28/2033 |
| Lease Term Remaining: | 8.8 Years |
| Rental Increases: | 1.25% Annually |
| Lot Size: | 0.50 Acres |
| Building Size: | 2,639 SF |
| Year Built: | 1964 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Ken Tamres
ktamres@nnnpro.com
License: VA: 0225205054
David Weber
dweber@nnnpro.com
License: VA: 0225099500 | MD: 574119 | DC: SP98363183
Broker of Record
Brian Brockman
Bang Realty-Texas, Inc
License: 701472
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.