Restaurant

MOD Pizza

600 21st St, Lewiston, ID 83501

Listing Price: $2,173,000

Cap Rate
5.75%
Tenant Name
MOD Super Fast, LLC
Years Remaining On Lease
6.9
Gross SF
3,287
Guarantor
Corporate Guarantee
Rentable SF
3,287
Price/Gross SF
$661.09
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.00

Investment Overview

MOD Pizza was established in 2008 in Seattle, Washington by co-founders Scott and Ally Svenson. The Svensons previously founded Seattle Coffee Company, a successful United Kingdom-based coffee company that sold to Starbucks in 1998. Afterwards, Scott stayed on as President of Starbucks Europe. MOD is the original superfast pizza experience - a pioneering fast-casual concept featuring artisan-style pizzas and salads, individually sized, made on demand, and ready in minutes. Customers have the ability to choose from over 30 toppings - the price stays the same no matter what. Today, MOD Pizza has over 460 locations in 28 U.S. states, the United Kingdom, and Canada. The company plans to double the number of locations and open another 500 stores within the next five years. In 2018, MOD Pizza had $390.7 million in sales, a 44.7 percent growth in sales year over year. In 2015, MOD Pizza raised $40 million in new funding for a total of $70 million in investment capital to fund an aggressive national growth strategy, and an additional $160 million in 2019. MOD’s growth is also accelerated by the addition of several franchise partnerships.

Investment Highlights

  • Eight Years Remaining on Lease Term with Corporate Guarantee
  • 10 Percent Rental Increases Every Five Years
  • High Performing Location
  • 52,637 Residents within a Five-Mile Radius - Growing Lewiston Trade Area
  • Excellent Visibility Along 21st Street (24,500 Cars Per Day), the Main Thoroughfare in Lewiston

Broker of Record

  • Paul Ryan

    Senior Associate

    License(s): ID: DB39666

    Idaho

Listing Price: $2,173,000

Cap Rate
5.75%
Tenant Name
MOD Super Fast, LLC
Years Remaining On Lease
6.9
Gross SF
3,287
Guarantor
Corporate Guarantee
Rentable SF
3,287
Price/Gross SF
$661.09
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.00

Investment Highlights

  • Eight Years Remaining on Lease Term with Corporate Guarantee
  • 10 Percent Rental Increases Every Five Years
  • High Performing Location
  • 52,637 Residents within a Five-Mile Radius - Growing Lewiston Trade Area
  • Excellent Visibility Along 21st Street (24,500 Cars Per Day), the Main Thoroughfare in Lewiston

Investment Overview

MOD Pizza was established in 2008 in Seattle, Washington by co-founders Scott and Ally Svenson. The Svensons previously founded Seattle Coffee Company, a successful United Kingdom-based coffee company that sold to Starbucks in 1998. Afterwards, Scott stayed on as President of Starbucks Europe. MOD is the original superfast pizza experience - a pioneering fast-casual concept featuring artisan-style pizzas and salads, individually sized, made on demand, and ready in minutes. Customers have the ability to choose from over 30 toppings - the price stays the same no matter what. Today, MOD Pizza has over 460 locations in 28 U.S. states, the United Kingdom, and Canada. The company plans to double the number of locations and open another 500 stores within the next five years. In 2018, MOD Pizza had $390.7 million in sales, a 44.7 percent growth in sales year over year. In 2015, MOD Pizza raised $40 million in new funding for a total of $70 million in investment capital to fund an aggressive national growth strategy, and an additional $160 million in 2019. MOD’s growth is also accelerated by the addition of several franchise partnerships.

Broker of Record

  • Paul Ryan

    Senior Associate

    License(s): ID: DB39666

    Idaho

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