1501 Fairmont AveFairmont, WV 26554

Property Details for 1501 Fairmont Ave

Lot size

0.55 AC

Property type

Drive through restaurants

APN

24-04- 1-0013.0001

APU

2404100130001

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Pizza Hut restaurant located at 1501 Fairmont Ave, Fairmont, WV 26554. The property boasts a 2,744 square foot building situated on a 1.7-acre lot, constructed in 2000 and renovated in 2009. Currently operating under a 20-year absolute NNN lease commencing February 22, 2022, and expiring February 28, 2042, this lease offers a substantial 17.3 years of remaining term. The lease includes six, 5-year renewal options and features annual rent bumps of 1.75% starting in year seven. The property enjoys a 100% occupancy rate since February 1, 2009, generating a strong net operating income (NOI) of $62,000, representing a 6.00% cap rate and a price per square foot of $376.58. The asking price is $1,033,333. This high-performing Pizza Hut location benefits from its proximity to Fairmont State University and the WVU Medical Center, contributing to its consistent success and strong operational history. The tenant is a top Pizza Hut franchise operator with over 120 units, ensuring a stable and reliable investment. This is a rare opportunity to acquire a well-established, nationally recognized brand in a prime location with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $7,714,524

  6.5%

  $7,121,099

  7%

  $6,612,449

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,538,734

  Geo Method

  $9,538,734

• Alternative Use

  Use

  Valuation

  Residential

  $6,006,914

  Hospitality

  $5,502,300

  Educational

  $4,577,850

  Medical

  $4,735,288

  Retail

  $7,121,099

Location Insight

City

Fairmont

County

Marion

State

West Virginia

Latitude

39.4647

Longitude

-80.1595

CBSA code

21900

CBSA name

FAIRMONT, WV MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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