21895 Viking Way NW - Fast Food FOR SALE


Poulsbo, WA 98370
$2,600,000 USD
425-233-9522
21895 Viking Way NW, Poulsbo, WA for Sale
$2,600,000 USD
Fast Food - FOR SALE
1/4
null | Request Cap Rate

21895 Viking Way NW
Poulsbo, WA 98370


HIGHLIGHTS

  • Owner/User or Value-Add Opportunity
  • Drive-thru Permitted | History of Strong Sales
  • High-Traffic, High-Visibility Location | Strategic Location
  • Easy Ingress/Egress and Prominent Signage
  • Robust Retail Trade Area | Affluent, High-Population Growth Market
  • Flexible Zoning | C-3: SR 305 Corridor

OVERVIEW

The Brown Group of Marcus & Millichap has been selected to exclusively market for sale a former Sonic Drive-In owner/user or value-add opportunity in Poulsbo, WA. The property features a 2,308 SF QSR building, an approximately 2,750 SF canopy, a double-entry drive-thru, and ample parking, with the flexibility to utilize the existing improvements or redevelop the parcel for a new use. The property's C-3: SR 305 corridor zoning explicitly permits drive-thrus and allows for a wide range of uses including retail, office, hospitality, health services, mixed-use, and residential. While operated as a Sonic Drive-In, the property consistently performed well above average AUV for the brand (contact Listing Agent for details). The property is situated on the corner of Viking Way and State HWY 305 adjacent to HWY 3, and benefits from 74,000+ VPD, easy ingress/egress with a protected left turn lane, and prominent pylon signage. The surrounding trade area includes numerous national retailers. The property is also strategically positioned along major commute and school routes, near multiple schools, and adjacent to the North Viking Transit Center/Park & Ride. The Poulsbo submarket features a five-year average retail vacancy rate of 3.3%, 3.4% annual rent growth over five years, and no new retail deliveries in four years, creating a high barrier-to-entry environment. Within three miles, average household incomes exceed $131,000 and the population has grown over 12% since 2010, with over 30% growth within one mile. Washington's lack of state income tax further enhances after-tax returns.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$1,127 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Former Sonic Drive-In

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

C-3: SR 305 Corridor

APN/PARCEL ID

102601-4-054-2000

ASK ABOUT THIS PROPERTY

Trevor LaneMarcus & MillichapMore Info
425-233-9522

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Trevor LaneMarcus & MillichapMore Info
425-233-9522

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