Pizza Hut
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Douglas Passon

Managing Partner

Robert Bender

Managing Partner

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PROPERTY ADDRESS

1125 N. Pontiac Trail, Walled Lake, MI 48390

PROPERTY INFORMATION

Price:
$635,000
Cap Rate:
7.0%
Term Remaining:
6 Years
Year Built:
1977
Status:
Available

INVESTMENT HIGHLIGHTS

  • - 10 Year NNN Lease Requiring Zero Landlord Responsibilities
  • - 40 Year Occupancy at Current Location | Lease Extension Shows Commitment to Site
  • - 111 Feet of Frontage on Pontiac Trail | 31 Surface Parking Spaces

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present a free-standing Pizza Hut/Wing Street Restaurant located at 1125 N. Pontiac Trail in Walled Lake, MI. This 10 year NNN lease amendment commenced in April 1, 2012 and will expire in March 31, 2022. The restaurant has been in its current location for 40 years and the lease extension shows the tenant’s commitment to the site.

This investment property is surrounded by many national retailers such as CVS, Ace Hardware, Sav-Mor, Dollar General, Taco Bell, Subway and many more. The median home value within five miles is over $215,000. The population within a five mile radius exceeds 132,000 residents with expected growth within three miles to be 4.28% by 2020. The average household income within a five mile radius exceeds $99,000.This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC.