Available Property

Pizza Hut Restaurant
3909 College Avenue
Snyder , TX
$937,500

The subject property is a freestanding Pizza Hut Restaurant located in Snyder, Texas operated by Progressive Pizza Partners (”Tenant”). Progressive is a respected, long term Pizza Hut franchisee owned and operated by Michael Baird, a 30+ year Pizza Hut veteran. This successful location was recently remodeled by Tenant. The proposed rent represents an extremely conservative 6.25% Rent to Sales ratio. Traffic generators in the area include Wal Mart Supercenter, Beall’s, CVS Pharmacy, United Supermarket, O’Reilly Auto, Napa Auto, Dollar General, Family Dollar, McDonald’s, Long John Silver’s, Sonic Drive-In, Subway, Whataburger, and Dairy Queen. The City of Snyder is located 90 miles south of Lubbock, west of Abilene, north of San Angelo and east of Midland. Pizza Hut is the world’s largest pizza restaurant company with 6,200 locations in the U.S. and 4,000 in 100 other countries. Pizza Hut is a subsidiary of YUM! Brands, Inc. (NYSE: YUM)

Tenant: Progressive Pizza Partners
Progressive Pizza Partners, LP is a highly respected franchisee of Pizza Hut restaurants and is part of Pizza Partners Inc., operator of 32 Pizza Hut Restaurants in Texas. The Company was founded 1998 by Michael Baird, who brings more than 30 years of experience in the Pizza Hut system. Prior to becoming a Pizza Hut franchise, Mr. Baird held several positions with Pizza Hut Inc., the last, being Director of Franchise Operations for the PHI domestic market. Progressive Pizza Partners own and operate 20 units in Texas. Pizza Partners also manages 33 Pizza Hut locations in Pennsylvania and Florida. Company-wide revenues are $32 million with 2010 EBITDA of $1.8 million. Mr. Baird has assembled a winning team to manage and grow their business. Nearly 50% of their stores sales exceed $1.0 million.

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