For Sale
$1,480,427

2665 Manchester RdAkron, OH 44319

High-yield Pizza Hut, 17+ year lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,029 square foot Pizza Hut located at 2665 Manchester Rd, Akron, OH 44319, situated on a 0.8-acre lot. The property is subject to a 20-year absolute triple-net (NNN) lease, commencing February 22, 2022, and expiring February 27, 2042, leaving 17.3 years remaining. The current annual net operating income (NOI) is $88,826, representing a 6.00% cap rate and a price per square foot of $488.75. The lease includes six, five-year tenant renewal options, extending the potential lease term to 50 years. Annual rent increases of 1.75% are scheduled to begin in year seven. The franchisee, SFR XI Holdings, LLC, operates approximately 120+ units, providing a strong guarantee. This is a 100% occupied, single-tenant property offering a secure, long-term investment with significant upside potential. The property is currently operating as a successful Pizza Hut restaurant, benefiting from its established location and brand recognition. This is a rare opportunity to acquire a high-performing, passively managed investment with a proven track record. The property's strong financial performance, coupled with the long-term lease and built-in rent escalations, makes it an attractive investment for both seasoned and new investors seeking stable returns in the commercial real estate market.

Highlights

  • $1,480,427 asking price for this Akron, OH Pizza Hut.
  • 20-year absolute NNN lease with 17.3 years remaining.
  • 6.00% cap rate with a $88,826 annual NOI.
  • 3,029 square feet on a 0.8-acre lot, priced at $488.75 per square foot.
  • 1.75% annual rent increases starting year seven, with six 5-year renewal options.

Property Details for 2665 Manchester Rd

Property type
Retail properties
Square Feet
3,029 SF
Lot Size (sq. ft)
34,848 SF

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.0262681
Longitude
-81.5473228
2665 Manchester Rd, Akron, Ohio

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2665 Manchester Rd
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