PIZZA HUT RESTAURANT - LoopNet

PIZZA HUT RESTAURANT

NNN Investment134 Yellow Creek Road

Evanston, Wyoming 83930DAVE DELATORRE

T 619 247 8585 F 828 459 [email protected]

Pizza Hut NNN Investment

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EXECUTIVE SUMMARY

DAVE DELATORRET 619 247 8585 [email protected]

PROPERTYPizza Hut and Wing Street Restaurant

LOCATION134 Yellow Creek Road, Evanston, Wyoming 82930

SALES PRICE$825,000

CAPITALIZATION RATE5.6%

RENTAL TERMS & CONDITIONS$30,000 Base Rent Vs. Six (6%) Percent of Annual Gross Sales

RENTAL INCOME$30,000 - Annual Base Rent$16,214 - 2020 Annual Percentage Rent$46,214 – 2020 Total Annual Rent

BUILDING SIZEApproximately 1,946 SF Originally Constructed in 1983. The BuildingWas Remodeled in Early 2014 When Wing Street Was Added.

LAND PARCEL SIZEApproximately 19,165 SF Land Parcel Which is a Pad in the SmithsShopping Center With Reciprocal Access Within the Smiths Center.

PRIMARY LEASE TERM & OPTION PERIODSFive Years Commencing on March 1, 2020 & Expiring on February 28, 2025

LEASE EXTENSION TERMSAutomatic 5 Year Extensions Unless Terminated By Either Party 30 Days Prior To Expiration. The Next Expiration Date Is March 1, 2025.

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Pizza Hut NNN InvestmentEXECUTIVE SUMMARY

TENANT INFORMATION

Grandmere Restaurant Group is tenant who

is a very successful Pizza Hut franchisee that

operates 146 Pizza Hut restaurants in 9 Central

US states including Montana, Wyoming, Missouri,

Oklahoma, Colorado, Utah, Kansas, Texas, and

Nebraska. Grandmere Restaurant Group has over

3,000 employees and is ranked as the 122 largest

restaurant franchisee in America according to the

2020 Nations Restaurant News Industry survey.

The company was established in 2017 when it

acquired its initial 23 Pizza Hut restaurants in

Kansas and Missouri. For additional information on

the company please visit their company website at

www.gmrestaurantgroup.com.

4DAVE DELATORRET 619 247 8585 [email protected]

Pizza Hut NNN InvestmentEXECUTIVE SUMMARY

COMMENTSThe Evanston Pizza Hut and Wing Street

Restaurant is a pad in the Smith’s Shopping

Center which is Evanston’s primary grocery

store and the second largest shopping center in

the city. The large land parcel is approximately

one-half acre with a large 1,946 Square Foot sit

down Pizza Hut restaurant building. The property

shares reciprocal access with Smith’s Food and

Drug, Smiths Liquor Store, Uinta Bank, Big O’

Tires, along with several shop tenants. The Pizza

Hut restaurant has frontage & excellent visibility

on Yellow Creek Road and is two minutes from

Interstate 80 which creates ideal traffic patterns

in excess of 25,000 cars per day which is ideal for

a fast-food restaurant. The Pizza Hut originally

opened this location in 1983 so they have a nearly

40 year track record of successful operations in

this location. The restaurant was remodeled in

2014 with the addition of Wing Street and sales

have been increasing since the remodeling.

The Pizza Hut property is in the heart of

Evanston’s commercial corridor, which is mixed

with Evanston’s residential neighborhoods

with have moderate income demographics. The

property generates strong dinner business when

most Evanston residents must pass the Pizza

Hut on their commute home. The restaurant

has profitable lunch and dinner sales from the

students of Evanston High School and Horizon

Alternative School which are located adjacent

to the Pizza Hut property. Evanston High School

and Horizon Alternative School currently enroll

approximately 3,900 students. The restaurant also

gets significant business from retail employees who

work in the dense retail trade area surrounding the

Pizza Hut location. The Evanston retail trade area

generators feature Walmart, Smith’s Food and

Drug, Big O Tires, Dollar Tree along with several

other national fast-food and sit-down restaurants

including McDonald’s, Taco Bell, and Wendy’s.


Pizza Hut NNN InvestmentAERIAL VIEWS

YELLOW CREEK ROAD 9,290 CPD

HorizonHorizonAlternative Alternative

SchoolSchool



SUBJECT PROPERTY

2019 Demographics 5 Miles

Population 12,359

Households 4,540

Median HH Income $54,769Evanston Evanston

High SchoolHigh School

HorizonHorizonAlternative SchoolAlternative School

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SUBJECT PROPERTY

YELLOW CREEK ROADYELLOW CREEK ROAD

HorizonHorizonAlternative SchoolAlternative School

Evanston Evanston High SchoolHigh School

DavisDavisMiddleMiddleSchoolSchool

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Pizza Hut NNN InvestmentMAPS

SUBJECT PROPERTY

SUBJECT PROPERTY


Smith’s Food and Drug Smith’s LIquor Store Big O Tires

Walmart Wells Fargo Dollar Tree

Pizza Hut NNN InvestmentTRADE AREA

TRADE AREA GENERATORS


Uinta Bank 1st Bank Murdock’s

AutoZone Sports World Evanston Dialysis Center


TRADE AREA GENERATORS


McDonald’s Wendy’s Maverik

Chevron Horizon Alternative School Evanston High School


FAST FOOD & LOCAL SCHOOLS


Pizza Hut NNN InvestmentAREA INFORMATION

Evanston, Wyoming

Evanston, a hub of activity on the Interstate

80, is located on the border of Utah and

Wyoming. Evanston is the county seat of Uinta County, Wyoming. The city is one hour

outside of Salt Lake City.

Evanston underwent massive growth in the

1980s during an oil boom. Recent drilling for

natural gas has also revitalized the economy

of the area.

In 2020, Evanston was formally recognized as a Great American Main Street Award Semifinalist by Main Street America. Significant preservation and design

projects have transformed Evanston’s

Main Street into a vibrant public space

for the community to enjoy. The city has

reconstructed 35 buildings, including a

theater, hotel, and train depot.

Evanston is bisected by Interstate 80, which

leads 59 miles southwest to Salt Lake City,

Utah. Traffic counts on Interstate 80 near

the property exceed 15,500 cars per day. Highway 89 merges with Interstate 80 in the center of Evanston, less than 1 mile from the property. Traffic counts on Highway 89

are approximately 11,000 cars per day.

The city has a bustling downtown business district with a variety of shopping

opportunities. There are many opportunities

for recreation such as golf, skiing the Uinta

Mountains, rafting on Bear River, and visiting

Bear River State Park.

DAVE DELATORRET 619 247 8585 F 828 459 3066

[email protected]

7486 La Jolla Boulevard, Suite 173La Jolla, California 92037

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