Upon close of escrow this property will have a brand new 20-year lease with a strong Pizza Hut franchisee. This location has store sales almost double the national average and benefits from both dine-in and delivery service. Strong seasonal and demographic characteristics, along with excellent management have made this location one of the best in the Pizza Hut system. Upon close of escrow, the tenant will have a one-year option to repurchase the property at $1,725,048 (a $100,000 premium over the current price). In order to satisfy a buyer's 1031 exchange, tenant would be willing to notify owner of decision to repurchase within the one year timeframe and close after one year of ownership.
