1951 W Prospect Rd
Ashtabula, OH 44004
Pizza Hut · Retail Property For Sale

The Northmarq National Restaurant Group is pleased to offer this single-tenant Pizza Hut property located at 1951 W Prospect Road in Ashtabula, Ohio. The asset features a franchiseeguaranteed absolute NNN lease with 16.5 years remaining and six five-year renewal options, extending potential occupancy through 2073. With 1.75% annual rent increases beginning in 2028, the lease provides a combination of passive ownership, inflation-protected income, and long-term security backed by SFR X Holdings, LLC, a proven operator with over 120 units nationwide and the 11th largest franchisee in the U.S.
The property is positioned along West Prospect Road within a strong retail corridor anchored by national tenants such as Circle K, Dollar General, Giant Eagle, and Big Lots. Its oversized 2.67- acre parcel—more than double the average Ohio QSR site—enhances parking, operations, and future redevelopment potential. The location also benefits from key demand drivers including the $22 million Harbor District revitalization, nearby attractions that draw over 650,000 annual visitors, and institutional anchors such as Kent State University at Ashtabula and Ashtabula County Medical Center.
With an absolute NNN lease, strong franchisee guaranty, oversized parcel, and proximity to major employers, schools, and redevelopment projects, this offering provides investors with a stable, long-term income stream and compelling residual value in a growing regional market.