pizza hut - se 122nd - market pricing analysis 3.0.pptx - read-only · created on october 22, 2018...
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Short‐Term Lease – Owner/User or Add‐Value Opportunity
P R E S E N T E D B Y
Brendan Powell
First Vice President Investments
Director - National Retail Group
Tel: (503) 200-2047
License: OR 201002133
Market Positioning and Pricing Analysis
PIZZA HUT1747 SE 122nd Ave • Portland, OR 97233
PIZZA HUT
Portland, OR
ACT ID Z0210491
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Non-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any
corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or
subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information
about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has
been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References
to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &
Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
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PIZAA HUT
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OFFERING SUMMARY
Freestanding 2,160 Square Foot Restaurant Building
Multiple Schools Within a ½ Mile Radius of the Property
Building Remodeled in 2013
19 Dedicated Parking Stalls
Great Owner/User or Add-Value Investment Opportunity
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to exclusively present for sale, a free-standing 2,160 square foot Pizza Hut. The property
is located at the intersection of SE 122nd Ave & SE Mill Ct in Portland, OR. The Tenant, NPC International, has just under
1-Year remaining on an absolute-triple net lease. At the end of the lease term the Tenant is expected to vacate. This
Offering would be ideal for an owner/user or add-value investor.
The property is 0.38 acres, has 19 dedicated parking spaces, and was remodeled in 2013 by the current Tenant. It is
located next to 122nd Market Plaza, a small retail strip center that features a Plaid Pantry and Luna Azul. The property
has two points of ingress & egress, one along 122nd Ave and the other on SE Mill Ct. There are three schools located
within a ½ mile of the Property, David Douglas Highschool, Mill Park Elementary School, and Portland Christian Grade
School. The property is also located 5 minutes from the off-ramp / on-ramp
The Offering presents an opportunity for an owner-user or add-value investor to collect a guaranteed income over the
remaining life of the lease as the property is re-tenanted.
INVESTMENT OVERVIEW
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PROPERTY SUMMARYOFFERING SUMMARY
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PIZZA HUT
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OFFERING SUMMARY
THE OFFERING ANNUALIZED OPERATING INFORMATION
Property Pizza Hut INCOME
Property Address 1747 SE 122nd Ave
Portland, OR 97233
Net Operating Income $53,000
Price $600,000 RENT SCHEDULE
Capitalization Rate* 8.83% YEARANNUAL
RENT
MONTHLY
RENTRENT/SF
Price/SF $277.78 Base Rent* $36,000 $3,000 $16.80
Percentage Rent* $17,000 $1,416 $7.87
PROPERTY DESCRIPTION
Year Built /
Renovated1971 / 2013 Total Rent $53,000 $4,441.66 $24.67
Gross Leasable Area 2,160 SF
ZoningCE - Commerical
Employment
*(* Base rent and Percentage rent assume that the Purchaser collects
6 month of base rent and percentage rent prior to lease expiration.
Type of Ownership Fee Simple
Lot Size 0.38 Acres
LEASE SUMMARY
Property SubtypeNet Leased
Restaurant
Tenant NPC International
Rent Increases Percentage Rent
Guarantor Franchisee Guarantee
Lease Type Absolute Net
Lease Commencement 12/19/1986
Lease Expiration 12/31/2019
Lease Term 5
Term Remaining on Lease
(Years)1
Renewal Options One 5-Yr Option
Landlord Responsibility None
Tenant Responsibility Everything
Right of First
Refusal/OfferNo
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1747 SE 122nd Ave, Portland, OR 97233
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
PRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
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LOCATION OVERVIEW
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1747 SE 122nd Ave, Portland, OR 97233 LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
PRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
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REGIONAL AND LOCAL MAP
AERIAL PHOTO
PIZZA HUT
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AERIAL PHOTO
PIZZA HUT
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MARKETING TEAM
Source: © 2015 Experian
PROPERTY NAME
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CREATED ON OCTOBER 22, 2018
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
PRICING AND VALUATION MATRIX
PROPERTY NAMEPIZZA HUT
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DEMOGRAPHICS
1 Miles 3 Miles 5 Miles
POPULATION
2022 Projection 28,575 199,049 438,476
2017 Estimate 27,296 192,764 425,485
2010 Census 24,214 175,810 389,788
2000 Census 19,669 154,581 348,428
INCOME
Average $52,896 $58,844 $69,990
Median $40,221 $45,378 $52,599
Per Capita $18,594 $21,743 $27,169
HOUSEHOLDS
2022 Projection 10,128 74,046 171,482
2017 Estimate 9,451 70,245 163,454
2010 Census 8,522 64,848 150,835
2000 Census 7,197 57,975 135,975
HOUSING
2017 $225,029 $236,353 $275,340
EMPLOYMENT2017 Daytime Population
26,140 143,456 347,504
2017 Unemployment
6.90% 5.75% 5.01%
2017 Median Time Traveled
29 29 28
RACE & ETHNICITY
White 64.01% 65.74% 71.61%
Native American 1.01% 1.07% 0.73%
African American 7.04% 6.10% 4.93%
Asian/Pacific Islander
12.48% 12.81% 10.29%
www.MarcusMillichap.com
Brendan Powell
First Vice President Investments
Director - National Retail Group
Portland Office
Tel: (503) 200-2047
Fax: (503) 200-2010
License: OR 201002133
P R E S E N T E D B Y
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