Press Releases
Marcus & Millichap Brokers $3.8M Sale of Taco Bell in Poulsbo, Washington
August 03, 2026
POULSBO, Wash., July 29, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 21289 Olhava Way NW, a locally owned and operated Taco Bell in Poulsbo, Washington. The asset sold for $3.8 million equating to a 4.84 percent cap rate.
"Demand for high-performing quick-service restaurant properties on the West Coast remains strong as West Coast 1031 exchange buyers seek long-term investments backed by established operators close to home," said Ryan Croke, an associate with the NFB Group of Marcus & Millichap. "This Taco Bell stood out because it offered a newly constructed asset with a long-term investment profile in a market where well-located net-leased opportunities remain in high demand."
Croke, Tyler Bindi, Rob Narchi and Jason Fefer, investment specialists in Marcus & Millichap’s Los Angeles office, in association with Joel Deis, Marcus & Millichap’s Washington broker of record, represented the buyer, a Southern California 1031 exchange buyer. The seller was a Washington-based developer.
Marcus & Millichap facilitated the acquisition as the replacement property in the buyer's 1031 exchange. The buyer exchanged out of a property they had owned since 2011 in favor of a longer-term investment in a high-performing Taco Bell in the Pacific Northwest.
Built in 2021, the 2,024-square-foot Taco Bell is situated on a one-acre parcel off Washington State Route 3. The property is one of the newer Taco Bell locations in the market and will be held as a long-term NNN investment.
"Demand for high-performing quick-service restaurant properties on the West Coast remains strong as West Coast 1031 exchange buyers seek long-term investments backed by established operators close to home," said Ryan Croke, an associate with the NFB Group of Marcus & Millichap. "This Taco Bell stood out because it offered a newly constructed asset with a long-term investment profile in a market where well-located net-leased opportunities remain in high demand."
Croke, Tyler Bindi, Rob Narchi and Jason Fefer, investment specialists in Marcus & Millichap’s Los Angeles office, in association with Joel Deis, Marcus & Millichap’s Washington broker of record, represented the buyer, a Southern California 1031 exchange buyer. The seller was a Washington-based developer.
Marcus & Millichap facilitated the acquisition as the replacement property in the buyer's 1031 exchange. The buyer exchanged out of a property they had owned since 2011 in favor of a longer-term investment in a high-performing Taco Bell in the Pacific Northwest.
Built in 2021, the 2,024-square-foot Taco Bell is situated on a one-acre parcel off Washington State Route 3. The property is one of the newer Taco Bell locations in the market and will be held as a long-term NNN investment.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
