510 S Freya St - Restaurant FOR SALE


Spokane, WA 99202- East Central
$1,800,000 USD
503-957-7945
510 S Freya St, Spokane, WA for Sale
$1,800,000 USD
Restaurant - FOR SALE
1/5
null | 5% Cap Rate

510 S Freya St
Spokane, WA 99202
East Central


HIGHLIGHTS

  • 10-Year term with annual 2% rent increases. Yield increases 100 basis points in the primary term
  • Absolute NNN lease structure provides zero Landlord responsibilities. Seller to execute a brand-new lease at closing
  • Strong regional brand with 49+ locations and 20+ years of operational success, all 100% company owned. Voted “Best Drive-Thru Coffee” four years
  • Strategic, high-visibility location on a one-way portion of Freya Street carrying all I-90-bound traffic directly past the property
  • Dense surrounding population with approximately 230,711 residents within a 5-mile radius, supporting strong daily drive-thru traffic
  • Additional daily draw provided by proximity to Fred Meyer, the only large-footprint grocery serving the immediate submarket just south of I-90

OVERVIEW

The Offering provides the opportunity to acquire a Wake Up Call Coffee backed by a new 10-year absolute NNN lease with annual rent increases of 2%, to be executed at closing. Wake Up Call Coffee is a rapidly growing, privately held coffee chain with 49+ company-owned locations across three states, with an extremely loyal customer base. The Property is in close proximity to an Interstate 90 interchange and is expertly positioned along a one-way portion of Freya Street that drives all highway-bound traffic past the Subject Property, with 17,800 VPD. The Property benefits from high-density surrounding residential of 230,711 residents within a 5-mile radius. South Spokane is arguably one of the most desirable residential areas in Spokane, located a short distance from the Spokane CBD and Interstate 90, with an annual growth rate just above the US average.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$303 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wake Up Call Coffee

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,543 SF

ZONING

CB

APN/PARCEL ID

35222.4801

ASK ABOUT THIS PROPERTY

Sean MackNorthmarqMore Info
503-957-7945

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Sean MackNorthmarqMore Info
503-957-7945

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