|Gross Leasable Area (GLA)||2,520 Sq.Ft.|
|Price Per Square Foot (GLA)||$412|
|Lot Size||0.60 Acres|
Marcus & Millichap is pleased to exclusively offer for sale this 2,520-square foot freestanding Pizza Hut located in Naples, FL. Pizza Hut has 5.3 years remaining on the base term of the triple-net lease with two additional 5-year option periods remaining. The rate schedule provides a new investor with a blended average unleveraged return of seven percent on the base term of the lease. This Pizza Hut is operated by NPC International Inc., a large operationally focused company with a history of delivering strong, consistent financial performance. Representing approximately 20 percent of the domestic Pizza Hut restaurant system, NPC International operates more than 1,240 Pizza Hut units in 27 states and is the largest franchisee of any restaurant concept in the United States.
The property lies on busy Tamiami Trail with easy ingress/egress and a daily average traffic count of 34,500 cars. Tamiami Trail is a major artery that connects several major cities up and down the Gulf Coast, and runs all the way accross the state into Miami. The property caters to the local residents and businesses with an average
household income of $82,096. Located across the street from Gulf Gate Plaza, a large 204,544-square foot shopping center occupied by Big Lots, Bealls Outlet, and Bravo Supermarket among other retailers. Pizza Hut also benefits from its close proximity to several national restaurant brands including McDonald’s, Wendy’s, Dunkin’
Donuts, Buffalo Wild Wings, and Burger King.
Net-Leased Restaurant Specialist