For Sale
$1,364,000

300 Water StKittanning, PA 16201

High-yield Dunkin' investment; NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 15-year absolute NNN ground lease for a Dunkin' restaurant located at 300 S Water St, Kittanning, PA 16201. The property, situated on a 0.3-acre lot, boasts 1,849 square feet of net rentable space and features 17 parking spaces. Built in 2012 and renovated in 2022, this Dunkin' location benefits from a strong position at the intersection of South Water Street and Mulberry Street, experiencing over 13,000 cars daily. The lease, guaranteed by the 75-unit Heartland Restaurant Group, includes a favorable 10% rent increase every five years, ensuring consistent income growth. The property offers a Net Operating Income (NOI) of $75,000 and a 5.50% capitalization rate, making it an attractive investment with a compelling asking price of $1,364,000. Kittanning serves as the county seat of Armstrong County, providing a stable and established market. This is the only exclusive Dunkin' franchisee in the Pittsburgh MSA. The property's recent remodel and prime location contribute to its strong performance and potential for future growth. This is a single-tenant, NNN lease.

Highlights

  • 15-Year Absolute NNN Ground Lease for a Dunkin' in Kittanning, PA.
  • Kittanning is the county seat of Armstrong County, PA.
  • 10% rent increases every five years.
  • Lease guaranteed by Heartland Restaurant Group (HRG), a 75-unit operator.
  • Recently remodeled Dunkin' built in 2012.

Property Details for 300 Water St

Property type
Retail properties, Restaurants
Year Built/Renovated
2012/2022
Lot Size (sq. ft)
13,068 SF

Location Insight

City
Kittanning
County
Armstrong
State
Pennsylvania
Latitude
40.8108172
Longitude
-79.5177272
300 Water St, Kittanning, Pennsylvania

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300 Water St
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