Restaurant
Popeyes
21920 Pacific Hwy S, Des Moines, WA 98198
Listing Price: $4,362,466
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located on the corner of 21920 Pacific Hwy in Des Moines, WA. The property consists of 2,311 square feet of building space and is situated on an estimated 1.12 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 $196,311 and will increase by 1.75% 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: $4,362,466
Investment Highlights
- Brand New 20 Year Lease That Commences at Close of Escrow
- Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Attractive Rental Increases of 1.75% Percent Annually Beginning in Year 6
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located on the corner of 21920 Pacific Hwy in Des Moines, WA. The property consists of 2,311 square feet of building space and is situated on an estimated 1.12 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 $196,311 and will increase by 1.75% 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.
