5822 Road 68 - Retail FOR SALE


Pasco, WA 99301
$1,950,000 USD
952-356-0100
5822 Road 68, Pasco, WA for Sale
$1,950,000 USD
Retail - FOR SALE
1/3
null | 6.15% Cap Rate

5822 Road 68
Pasco, WA 99301


HIGHLIGHTS

  • Brand-new build-to-suit construction with three service bays, and rent commencement on June 1, 2024
  • NNN Lease structure with 10% rental escalations every 5 years including at the beginning of each of the three, five-year options
  • Experienced multi-unit operator with more than five current locations and expanding
  • Adjacent to 11,500 square foot Davita Dialysis center which is currently under construction, and will be one of largest in the state of Washington
  • High-exposure location with frontage on Road 68 and average daily traffic of 22,000+ VPD
  • There are new developments in the area including Starbucks (also available for sale, please contact Northmarq for more information) Popeye’s, and more

OVERVIEW

The offering provides the opportunity to acquire a newly constructed three service bay Take 5 Oil with frontage on Road 68 in Pasco, Washington. Take 5 Oil operates on a 10-year, triple net lease, with scheduled rent growth provided by 10% rent increases every five years and is expected to grow an investor’s yield by 62 basis points after the first five years. The Property has frontage on a prominent retail arterial in Pasco and is also accompanied by new developments in the nearby surrounding area. Additionally, the Property is shadow-anchored by a major grocery-anchored shopping center featuring tenants including Grocery Outlet, Dollar Tree, Planet Fitness, and more.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$1,300 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,500 SF

ZONING

C-1

APN/PARCEL ID

116030032

ASK ABOUT THIS PROPERTY

Sean MackNorthmarqMore Info
952-356-0100

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Sean MackNorthmarqMore Info
952-356-0100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.