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Popeyes

Vancouver, Washington

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Marcus & Millichap is pleased to present the exclusive listing for a Popeyes located at 15306 NE Fourth Plain Blvd, Vancouver, WA. The property consists of 2,536 square feet of building space and is situated on an estimated 0.65-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 $162,000 and will increase by 2.00% 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.

About the Investment
✓ Brand New 20-Year Sale-Leaseback
✓ Tenant will Begin Construction at the Close of Escrow
✓ Rent will Commence at Store Opening
✓ Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Attractive Rental Increases of Two Percent (2.0%) Annually Beginning in Year 6
✓ Four (4) Tenant Renewal Periods of Five (5) Years Each

Key Details

Price:
$3,490,981
Cap Rate:
5.50%
Annual Rent:
$192,004
Address:
15306 NE Fourth Plain Blvd, Vancouver, Washington 98682
Property Type:
Net-Leased Restaurant
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
2.00% Annually Starting Year 6
Lot Size:
0.65 Acres
Building Size:
2,536 SF
Year Built:
2022
Tenant:
Popeyes

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Edward Otocka

License: 10401298466

Amelia Haydock

License: 10401334976

Broker of record

Joel Deis

License: 90758


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