Net Lease Pizza Hut Property For Sale Date August 9, 2017
The Boulder Group is pleased to exclusively market for sale a single tenant net lease Pizza Hut property located in Detroit, Michigan. Pizza Hut has successfully operated at this location for almost 20 years. The Pizza Hut property has easy access and excellent visibility along one of the area’s primary thoroughfares. In addition to Pizza Hut’s cuisine, the location serves WingStreet items. WingStreet is a sister franchise to Pizza Hut specializing in Buffalo chicken wings. Pizza Hut is an American restaurant chain and international franchise with over 15,000 locations worldwide. It is a subsidiary of Yum! Brands, Inc., one of the world’s largest restaurant companies.
The 2,202 square foot net lease Pizza Hut building is located along Warren Avenue, one of the primary thoroughfares in the East English Village neighborhood of Detroit. Warren Avenue experiences traffic counts of 24,640 vehicles per day. The property is located in a heavily populated area with over 126,315 people living within a three-mile radius of the property earning an average household income of $74,819 per year.
National retailers located in the immediate area include Sherwin-Williams, Family Dollar, AutoZone, O’Reilly Auto Parts and Burger King. The property is also located within proximity to multiple residential communities, local businesses, and schools. East English Village Preparatory Academy, a magnet high school with nearly 1,600 students, is located one-quarter mile north east of the property.
The Pizza Hut property has less than one year remaining on the lease which expires June 10, 2018. The triple net lease features two 5-year renewal option periods at fair market rent. Pizza Hut is the world’s largest pizza restaurant chain and fourth largest fast-food chain (as measured by units) with more than 15,000 locations in 120 countries. Pizza Hut is a subsidiary of Yum! Brands, one of the world’s largest restaurant companies publically traded on the New York Stock Exchanges (symbol: YUM).Back