1203 N. VELASCO STREET
ANGLETON, TX 77515
SALE PRICE: $3,050,000
1031 Exchange | NNN Asset
Alex Reyhan and Daniel Hirth of the Hirth Group represented the buyer on a successful 1031 exchange into a Pizza Hut in Angleton, Texas. The buyer was looking to exchange out of a property in Hollywood which they used for their personal business into an investment with more passive income. As the Buyer was working on strategizing on their retirement, they were looking for a 1031 exchange with no landlord responsibilities.
The Hirth Group was successful in identifying a handful of properties that would meet his criteria, securing the client the deal, and negotiating on behalf of the buyer to obtain seller financing. The Pizza Hut has over 18 years left on their term, being the 2nd largest Pizza Hut franchisee in the United States with over 388 units. The property is roughly 3,446 SF of building on a 0.51 acre lot. The buyer purchased the property at an in-place CAP rate of 5.24% with 10% increases every 10 years.