1232 164th St SW - Fast Food FOR SALE


Lynnwood, WA 98087- Martha Lake
$5,000,000 USD
206-693-3352
1232 164th St SW, Lynnwood, WA for Sale
$5,000,000 USD
Fast Food - FOR SALE
1/2
null | 4.4% Cap Rate

1232 164th St SW
Lynnwood, WA 98087
Martha Lake


OVERVIEW

• Scheduled to finish construction in the second quarter of 2026, operating on a 15-year absolute net corporate ground lease. • 10% rental increases every five years, with five year renewal options at 10% increases. • Incredible lighted corner location on 164th St SW with 50,000+ vehicles per day, and only 1,000 feet from the I-5/164th St SW interchange, where traffic exceeds 180,000 vehicles daily. • The Property is adjacent to a Walmart location that welcomed 2.3M visits in the past year. Other nearby national tenants include Fred Meyer, Starbucks, Panda Express and Five Guys. • 380,000+ people within 5 miles of the Property, earning an average household income of $149,000. • The Property offers a dual-lane drive-thru with over 10 parking spaces per 1,000 SF of building space. • Since 2021, over 2,000 multifamily units have been built within 2 miles of the Property. • The adjacent parcel to the immediate south of the Property has been approved for 20 townhome units and 6,000 SF of commercial space. • Raising Cane’s has the second highest AUV of any QSR brand in the US ($6M+). Raising

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$1,760 USD /SF

CAP RATE

4.4%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Raising Cane's Ground Lease - Lynnwood

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

UC

APN/PARCEL ID

003737-006-006-03

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

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Sean TuftsNorthmarqMore Info
206-693-3352

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