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.