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Restaurant

Popeyes

240 N Ely St, Kennewick, WA 99336

Listing Price: $4,574,233

Cap Rate
5.15%
Tenant Name
Popeyes
Years Remaining On Lease
18.9
Guarantor
Franchisee Guarantee
Rentable SF
2,333
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.97

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located on the corner of 240 North Ely Street in Kennewick, WA. The property consists of 2,333 square feet of building space and is situated on an estimated 0.73 acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease that has 19.6 years remaining on the base term. The base rent is $235,573 and will increase by 1.75%percent annually starting in year six and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.

Investment Highlights

  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Brand New 20-Year Lease with 19.6 Years Remaining
  • Attractive Rental Increases of 1.75% Percent Annually Beginning in Year 6

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Listing Price: $4,574,233

Cap Rate
5.15%
Tenant Name
Popeyes
Years Remaining On Lease
18.9
Guarantor
Franchisee Guarantee
Rentable SF
2,333
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.97

Investment Highlights

  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Brand New 20-Year Lease with 19.6 Years Remaining
  • Attractive Rental Increases of 1.75% Percent Annually Beginning in Year 6

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located on the corner of 240 North Ely Street in Kennewick, WA. The property consists of 2,333 square feet of building space and is situated on an estimated 0.73 acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease that has 19.6 years remaining on the base term. The base rent is $235,573 and will increase by 1.75%percent annually starting in year six and continuing throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

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