Restaurant

Taco Bell (Seattle MSA)

Listing Price: $1,415,000

Cap Rate
5.50%
Tenant Name
Taco Bell
Years Remaining On Lease
3.70
Gross SF
2,150
Guarantor
Franchisee Guarantee
Rentable SF
2,150
Price/Gross SF
$658.14
Lease Type
Absolute Net
Rent Per Square Feet
$36.20

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the 7th Avenue NE Taco Bell restaurant in Poulsbo, Washington. The 2,150 Square-foot building sits on a 0.37 acre lot in a main commercial corridor of Poulsbo. Located on the main thoroughfare of Highway 305, the property is an outparcel to a major shopping center and just blocks from the Port of Poulsbo. The site is leased to a regional franchisee (12 locations in Washington) who has been in the Taco Bell/Yum! system since 1989. The lease is an Absolute NNN lease with zero landlord responsibilities whatsoever. The tenant has occupied the site since 2000 and there is a 7.5% rent bump set to occur in 2022.

The subject property is located along State Highway 305, a heavily traveled thoroughfare that goes through Bainbridge Island, Poulsbo, and Kingston. The property is situated between Burger King and 76 Gas Station, and outparcel to a shopping center that includes Rite Aid, Starbucks, Dollar Tree, Sprint, The UPS Store, and Domino's. North Kitsap High School and the Port of Poulsbo are just south of the property. Major retailers close-by retailers include Central Market, Taco Time, Safeway, CVS Pharmacy, and Dairy Queen.

Poulsbo is a growing 21st century city with a Scandinavian heritage that has earned Poulsbo the nickname "Little Norway". Poulsbo, Washington, with a population of 10,210, is located in the northern part of Kitsap County and is 4.5 square miles in area. The town is situated between Liberty Bay and the Olympic Mountains. Poulsbo is a thriving community with many amenities that attract tourists and encourage people to move to this area. With its picturesque downtown core of storefronts and shopping areas at Poulsbo Village, along Viking Avenue, and in College Market Place, Poulsbo offers much to citizens and guests alike. These include several beautiful parks throughout the city, a boardwalk along Liberty Bay, the Valborg Oyen Public Library, three marinas, interesting gift shops, delicious bakeries, good schools including the Olympic College satellite campus, and panoramic views of Liberty Bay and the Olympic Mountains.

Investment Highlights

  • Rare Seattle MSA Fast-Food Opportunity
  • Regional Franchisee In Operation Since 1989
  • 7.5% Rent Bump to Occur in 2022
  • Absolute NNN Leased Taco Bell

Exclusively Listed By

  • Hank Wolfer

    First Vice President Investments

    Email Hank

    License(s): WA: 110547

    Seattle

Listing Price: $1,415,000

Cap Rate
5.50%
Tenant Name
Taco Bell
Years Remaining On Lease
3.70
Gross SF
2,150
Guarantor
Franchisee Guarantee
Rentable SF
2,150
Price/Gross SF
$658.14
Lease Type
Absolute Net
Rent Per Square Feet
$36.20

Investment Highlights

  • Rare Seattle MSA Fast-Food Opportunity
  • Regional Franchisee In Operation Since 1989
  • 7.5% Rent Bump to Occur in 2022
  • Absolute NNN Leased Taco Bell

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the 7th Avenue NE Taco Bell restaurant in Poulsbo, Washington. The 2,150 Square-foot building sits on a 0.37 acre lot in a main commercial corridor of Poulsbo. Located on the main thoroughfare of Highway 305, the property is an outparcel to a major shopping center and just blocks from the Port of Poulsbo. The site is leased to a regional franchisee (12 locations in Washington) who has been in the Taco Bell/Yum! system since 1989. The lease is an Absolute NNN lease with zero landlord responsibilities whatsoever. The tenant has occupied the site since 2000 and there is a 7.5% rent bump set to occur in 2022.

The subject property is located along State Highway 305, a heavily traveled thoroughfare that goes through Bainbridge Island, Poulsbo, and Kingston. The property is situated between Burger King and 76 Gas Station, and outparcel to a shopping center that includes Rite Aid, Starbucks, Dollar Tree, Sprint, The UPS Store, and Domino's. North Kitsap High School and the Port of Poulsbo are just south of the property. Major retailers close-by retailers include Central Market, Taco Time, Safeway, CVS Pharmacy, and Dairy Queen.

Poulsbo is a growing 21st century city with a Scandinavian heritage that has earned Poulsbo the nickname "Little Norway". Poulsbo, Washington, with a population of 10,210, is located in the northern part of Kitsap County and is 4.5 square miles in area. The town is situated between Liberty Bay and the Olympic Mountains. Poulsbo is a thriving community with many amenities that attract tourists and encourage people to move to this area. With its picturesque downtown core of storefronts and shopping areas at Poulsbo Village, along Viking Avenue, and in College Market Place, Poulsbo offers much to citizens and guests alike. These include several beautiful parks throughout the city, a boardwalk along Liberty Bay, the Valborg Oyen Public Library, three marinas, interesting gift shops, delicious bakeries, good schools including the Olympic College satellite campus, and panoramic views of Liberty Bay and the Olympic Mountains.

Exclusively Listed By

  • Hank Wolfer

    First Vice President Investments

    Email Hank

    License(s): WA: 110547

    Seattle

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