For Sale
$1,666,667

3250 Main St Richmond, IN 47374

High-performing Pizza Hut, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a fee-simple ownership of a thriving Pizza Hut restaurant located at 3250 E Main St, Richmond, IN 47374. Built in 2012, this 1,084 square foot restaurant sits on a 0.32-acre lot and boasts a strong 11+ year operating history. The property is currently operating under a 20-year Absolute NNN lease, commencing February 22, 2022, and expiring February 28, 2042, leaving 17.3 years remaining. The lease includes annual rent bumps of 1.75% starting in year seven, and six, five-year renewal options. The tenant is a top Pizza Hut franchise operator with over 120 units, providing exceptional financial stability. The property has a 6.00% cap rate and a Net Operating Income (NOI) of $100,000, with a sale price of $1,666,667 ($1,537.52/sq ft). The property benefits from its location in a main retail corridor, demonstrating consistent year-over-year growth. This is a rare opportunity to acquire a well-established, nationally recognized brand with a long-term lease and significant upside potential. The property's 100% occupancy since August 1, 2012, further underscores its consistent performance and desirability.

Highlights

  • Fee-simple ownership of a Pizza Hut restaurant in a prime Richmond, IN retail corridor.
  • Absolute NNN lease with 17.3 years remaining (expires 2/28/2042), including six 5-year renewal options and 1.75% annual rent increases starting year seven.
  • Strong operating history (11+ years); top-performing Pizza Hut franchisee (120+ units) provides financial stability.
  • 1,084 SF building on a 0.32-acre lot, built in 2012; $1,666,667 sale price ($1,537.52/SF), 6.00% cap rate, $100,000 NOI.
  • 100% occupancy since 8/1/2012.

Property Details for 3250 Main St

Property type
Retail properties, Restaurants
Square Feet
1,084 SF
Year Built
2012
Lot Size (sq. ft)
13,939 SF

Location Insight

City
Richmond
County
Wayne
State
Indiana
Latitude
39.830851075857
Longitude
-84.857268653552

FAQs

What type of property is this?
Retail property - High-performing Pizza Hut, strong lease terms.
Where is the retail property located?
The property is located at 3250 Main St Richmond, IN.
What is the asking price?
The asking price for this property is $1,666,667.
What are key features of this property?
This property features: Fee-simple ownership of a Pizza Hut restaurant in a prime Richmond, IN retail corridor.; Absolute NNN lease with 17.3 years remaining (expires 2/28/2042), including six 5-year renewal options and 1.75% annual rent increases starting year seven.; Strong operating history (11+ years); top-performing Pizza Hut franchisee (120+ units) provides financial stability.
How can I contact the broker?
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3250 Main St
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