12421 Sunset Hwy - Fast Food FOR SALE


Airway Heights, WA 99001
$2,200,000 USD
206-946-9425
12421 Sunset Hwy, Airway Heights, WA for Sale
$2,200,000 USD
Fast Food - FOR SALE
1/7
null | 6.55% Cap Rate

12421 Sunset Hwy
Airway Heights, WA 99001


OVERVIEW

The Verger Team is pleased to present the opportunity to acquire a Single-Tenant NNN Zip’s Drive-In with over 14 years remaining on the lease. The property features 3% annual rent escalations beginning in 2030, providing both a hedge against inflation and consistent rent growth through 2039. Strategically located on West Sunset Highway (US-2), Airway Heights’ primary retail corridor, the property is surrounded by national retailers including Yoke’s, Walmart, AutoZone, and Domino’s. Its frontage along US-2, with convenient access to Interstate 90 and Spokane International Airport, ensures excellent visibility and strong regional connectivity. With less than 1.5% retail vacancy in the Airway Heights market as of Q2 2025 (CoStar), this offering represents a rare opportunity to acquire a high-performing, long-term leased asset in one of the most desirable submarkets in the region. Investment Highlights: Minimal Landlord Responsibilities: Operating under a Triple Net (NNN) lease, Zip's Drive-In assumes nearly all property expenses, including taxes, insurance, and maintenance protecting future ownership from rising operating expenses. Long-Term Tenant Commitment: Zip's Drive-In has occupied the building since it was constructed in 1987, and recently executed a new 20-year lease in 2020, demonstrating their commitment to the location. Built-in Inflation Protection: Future ownership will benefit from 3% rent increases every year beginning in 2030, offering a hedge against inflation and consistent rent growth through 2039. Well Established Operator: The current operator has been with Zip's Drive-In for over 25 years, and has been at this location since 2009. Prominent Retail Corridor: Located on West Sunset Highway (US-2), Airway Heights’ primary retail corridor, the property is surrounded by national retailers including Yoke’s, Walmart, AutoZone, and Domino's reinforcing the area’s long-term viability as the region’s retail hub. Minimal Sub-Market Vacancy: According to CoStar, retail vacancy within Airway Heights is less than 1.5% as of Q2 2025.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$773 USD /SF

CAP RATE

6.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12421 W Sunset Hwy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.13 AC

LAND SF

49,397 SF

ZONING

-

APN/PARCEL ID

15261.0027

ASK ABOUT THIS PROPERTY

Kevin VergerKidder MathewsMore Info
206-946-9425

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Kevin VergerKidder MathewsMore Info
206-946-9425

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