Restaurant
Popeyes
20118 Mountain Hwy E, Spanaway, WA 98387
Listing Price: $2,905,403
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located in Spanaway, WA. The property consists of 2,333 square feet of building space and is situated on an estimated 1.00-acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease, that will commence upon close of escrow. The base rent is$159,797 and will increase by 2.00% 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.
Listing Price: $2,905,403
Investment Highlights
- Brand New 19-Year Lease
- Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Attractive Rental Increases of Two Percent (2.0%) Annually Beginning in Year 6
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located in Spanaway, WA. The property consists of 2,333 square feet of building space and is situated on an estimated 1.00-acres of land. The tenant is subject to a 20-year absolute triple net (NNN) lease, that will commence upon close of escrow. The base rent is$159,797 and will increase by 2.00% 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.
