Pizza Hut - Snyder, TX

3909 College Ave Snyder , TX 79549-4628

Pizza Hut - Snyder, TX - Hotels & Hospitality for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a single-tenant Pizza Hut restaurant (the Property, or Asset) located in Snyder, Texas. The Asset features an absolute net lease with zero landlord responsibilities and 8.6 years of contractual term remaining. There are annual rent increases at the lesser of 1.50% or 1.25 times the CPI increase, and the tenant has 4, 5-year options to extend the lease. The tenant has guaranteed the lease and reports financials quarterly. This offering provides a long-term, passive net lease opportunity located within a dynamic retail trade area in a West Texas energy hub poised for enormous growth.

Investment Highlights


EXCELLENT IN-PLACE LEASE FUNDAMENTALS
• Absolute NNN lease with zero landlord responsibilities, 8.6 years of primary term remaining, and contractual rental growth annually.
HIGH PERFORMING TENANT
• Tumbleweed Pizza Partners operates 20+ Pizza Hut restaurants, fully guarantees the lease, and reports financials quarterly. This location is an especially high-performing store, operating well above national sales averages. Rent to sales at this location is a favorable 7.5%.
DYNAMIC RETAIL CORRIDOR
• The Asset is located on College Avenue, the main commercial corridor in Snyder and the link between downtown and the hospital and newly constructed Walmart Supercenter.
• The Asset benefits from a lack of nearby same-banner competition, with the next nearest Pizza Hut located more than 20 miles away.
ENERGY BOOMTOWN
• Snyder is already one of West Texas’ most significant energy hubs, located in the heart of the SACROC oilfield and two major wind farms totaling 790+ turbines. The recently-discovered Cline Shale oilfield is the largest in USGS history, and is poised to catapult Snyder into an unprecedented phase of growth.
General
Property Type Hotels & Hospitality
Property Subtype Restaurant
Tenure Type Sale / Purchase
Property Address 3909 College Ave, Snyder, TX 79549-4628
Land In Acres 0.45
Building Size 3,019  ft2
Financial
Price $1,202,500
Cap Rate %
Lease
Tenant's Name Pizza Hut
Lease Type NNN
Lease Expiration Date 12/31/2026
Remaining Term 7.7Yrs