Pizza Hut - Waterford

Expired Shopping Center for Sale
Pizza Hut - Waterford
Catylist Listing ID: 30048372
Building Size (RSF): 2,946 SF
Gross Land Area: 0.65 Acres
Sale Price: $528,207
Unit Price: $179.30 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Expired On: 9/5/2017
Last Updated: 9/5/2017

Overview / Comments

  • 100% occupied – Absolute NNN lease Pizza Hut property
  • Long and successful operating history at this location (since 1998)
  • Pizza Hut is one of the largest American restaurant chains and international franchises with over 15,000 locations worldwide
  • Operated by Redberry Resto Brands International – 133+ locations in the U.S. and Canada
  • Located in a strong retail trade area that features national tenants including McDonald’s, Burger King, KFC, Taco Bell, Walgreens, Arby’s, Tim Horton’s, and many more
  • Very strong demographics and traffic counts in the immediate retail trade corridor
  • Lease expiration: 5/31/2018
  • Two 5 year options with 15% rent increases
  • In-Place NOI: $52,820
  • Asking price: 10% CAP: $528,207

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Lakes Area
Tax ID/APN: 13-10-126-058
Zoning: BI
Number of Stories: 1
Year Built: 1976
Parking Description: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,398 68,833 162,275
Median Age: 39.76 39.96 38.52
Households: 2,897 28,016 63,835

Contact

Photograph of Listing Agent

Steven Silverman

Friedman Integrated Real Estate Solutions
Not a member of CPIX
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