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Restaurant

Popeyes

17021 Canyon Pkwy E, Tacoma, WA 98446

Listing Price: $2,997,043

Cap Rate
4.75%
Tenant Name
Popeyes
Gross SF
2,333
Guarantor
Franchisee Guarantee
Rentable SF
2,333
Price/Gross SF
$1,284.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.02

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located at 17021 Canyon Parkway East in Frederickson, Washington. The property consists of 2,333 square feet of building space and is situated on an estimated 0.91-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 $142,360 and will increase by 2.00% percent annually starting in year six and continuing throughout the base term and into each of the four , five-year tenant renewal option periods.

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • Triple Net Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Two Percent Annually Beginning in Year Six

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Listing Price: $2,997,043

Cap Rate
4.75%
Tenant Name
Popeyes
Gross SF
2,333
Guarantor
Franchisee Guarantee
Rentable SF
2,333
Price/Gross SF
$1,284.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.02

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • Triple Net Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases of Two Percent Annually Beginning in Year Six

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located at 17021 Canyon Parkway East in Frederickson, Washington. The property consists of 2,333 square feet of building space and is situated on an estimated 0.91-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 $142,360 and will increase by 2.00% percent annually starting in year six and continuing throughout the base term and into each of the four , five-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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