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Restaurant

Aceituno's Mexican Food | Abs NNN QSR feat 2% Annual Rent Increases | Recent Full Remodel

19610 7th Ave NE, Poulsbo, WA 98370

Listing Price: $2,080,000

Cap Rate
6.00%
Tenant Name
Aceituno's Mexican Food
Years Remaining On Lease
7.3
Gross SF
2,150
Guarantor
Corporate Guarantee
Rentable SF
2,150
Price/Gross SF
$967.44
Lease Type
Absolute Net
Rent Per Square Feet
$58.07

Investment Overview

Marcus & Millichap’s Brown Retail Group has been exclusively selected to market for sale Aceituno's Mexican Food, a newly remodeled Absolute NNN QSR investment located in Poulsbo, WA. In 2022, the Property was completely renovated with a total project cost in excess of $650,000 including a new roof, HVAC, façade, landscaping and interior renovations. The Absolute NNN Lease features rare 2% annual rent increases during the 10-year term, and 2% rent increases in all options, providing an investor with a hedge against inflation and no landlord management or repair responsibilities. The lease is guaranteed by Aceituno's corporate and backed by all 13 locations with a 14th to open soon, as well as a personal guarantee from the owner/founder. The Property is centrally located between the historic downtown Poulsbo and the main freeway access point to the city. It is nearby numerous national retailers including Town & Country Markets, Burger King, Dollar Tree, Safeway, CVS and more. Poulsbo retail submarket has a 3.2% vacancy rate and has seen a 14.4% increase in rents in the past 3 years per CoStar. With no new retail development under construction and no new supply delivered in the past 12 months; the development lull creates an incredibly high barrier-to-entry as demand for space remains high. Poulsbo is a rapidly growing and affluent submarket. Within a 5-mile radius of the Property, the population is nearly 41,000 with average household incomes exceeding $110,000. Since 2010 the population has grown over 19% within a 1-mile radius of the Property.

Investment Highlights

  • POPULAR PACIFIC NORTHWEST QSR BRAND
  • RECENT $650,000+ REMODEL (2021)
  • 2% ANNUAL RENT INCREASES
  • STRONG CORPORATE & PERSONAL GUARANTEE
  • ABSOLUTE NNN LEASE
  • STRATEGIC LOCATION
  • HIGH BARRIER-TO-ENTRY MARKET WITH LOW VACANCY RATE (3.2%)
  • AFFLUENT DEMOGRAPHICS / HIGH-GROWTH POPULATION SUBMARKET

Exclusively Listed By

Financing By

Restaurant

Aceituno's Mexican Food | Abs NNN QSR feat 2% Annual Rent Increases | Recent Full Remodel

Listing Price: $2,080,000

Cap Rate
6.00%
Tenant Name
Aceituno's Mexican Food
Years Remaining On Lease
7.3
Gross SF
2,150
Guarantor
Corporate Guarantee
Rentable SF
2,150
Price/Gross SF
$967.44
Lease Type
Absolute Net
Rent Per Square Feet
$58.07

Investment Highlights

  • POPULAR PACIFIC NORTHWEST QSR BRAND
  • RECENT $650,000+ REMODEL (2021)
  • 2% ANNUAL RENT INCREASES
  • STRONG CORPORATE & PERSONAL GUARANTEE
  • ABSOLUTE NNN LEASE
  • STRATEGIC LOCATION
  • HIGH BARRIER-TO-ENTRY MARKET WITH LOW VACANCY RATE (3.2%)
  • AFFLUENT DEMOGRAPHICS / HIGH-GROWTH POPULATION SUBMARKET

Investment Overview

Marcus & Millichap’s Brown Retail Group has been exclusively selected to market for sale Aceituno's Mexican Food, a newly remodeled Absolute NNN QSR investment located in Poulsbo, WA. In 2022, the Property was completely renovated with a total project cost in excess of $650,000 including a new roof, HVAC, façade, landscaping and interior renovations. The Absolute NNN Lease features rare 2% annual rent increases during the 10-year term, and 2% rent increases in all options, providing an investor with a hedge against inflation and no landlord management or repair responsibilities. The lease is guaranteed by Aceituno's corporate and backed by all 13 locations with a 14th to open soon, as well as a personal guarantee from the owner/founder. The Property is centrally located between the historic downtown Poulsbo and the main freeway access point to the city. It is nearby numerous national retailers including Town & Country Markets, Burger King, Dollar Tree, Safeway, CVS and more. Poulsbo retail submarket has a 3.2% vacancy rate and has seen a 14.4% increase in rents in the past 3 years per CoStar. With no new retail development under construction and no new supply delivered in the past 12 months; the development lull creates an incredibly high barrier-to-entry as demand for space remains high. Poulsbo is a rapidly growing and affluent submarket. Within a 5-mile radius of the Property, the population is nearly 41,000 with average household incomes exceeding $110,000. Since 2010 the population has grown over 19% within a 1-mile radius of the Property.

Exclusively Listed By

Financing By

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