521 Auburn Way S - Restaurant FOR SALE


Auburn, WA 98002- South Auburn
$3,435,000 USD
425-233-9522
521 Auburn Way S, Auburn, WA for Sale
$3,435,000 USD
Restaurant - FOR SALE
1/3
null | 5.5% Cap Rate

521 Auburn Way S
Auburn, WA 98002
South Auburn


HIGHLIGHTS

  • Brand New 20-Year Absolute Net Lease
  • High-Performing Location | Top 14% in Washington State
  • Strong Franchisee Guarantee and Experienced Multi-Brand Operator
  • 10% Rent Increases Every 5-Years
  • High-Traffic, Signalized Hard Corner Location with Direct Hwy-18 Access (88,000+ VPD)
  • Extensively Renovated in 2018 Reflecting Denny’s Modern Prototype Design

OVERVIEW

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale a high-performing Denny's in Auburn, WA, secured by a brand-new 20-year Absolute Net Lease to be executed at closing. The lease offers long-term, passive cash flow, zero landlord responsibilities, 10% rent escalations every five years, and a guarantee from Awashington, LLC (15 WA locations, $30M+ in annual sales). The restaurant is operated by The Keshap Group — a multi-brand franchisee with 25+ years of experience, 35 Denny's, 16 Papa John's, and four Dave's Hot Chicken restaurants. This Denny’s ranks in the top 14% of all restaurants in Washington state and top 30% nationally (per Placer.ai). It is situated just off Hwy-18 (88,000+ VPD) at the signalized hard corner of Auburn Way S and 6th St SE (57,000+ VPD). The property was extensively renovated in 2018 to Denny's modern prototype standards and benefits from strong traffic drivers including nearby hotels, the Boeing Auburn plant, and the Outlet Collection — the largest outlet mall in the Pacific Northwest with 5.2 million annual visitors. The site serves approximately 195,000 residents within 5 miles, with average household incomes exceeding $105,000, in income tax-free Washington state.

FOR SALE DETAILS

PRICE

$3,435,000 USD

PRICE/SF

$603 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Denny's - Auburn

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

77

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,494 SF

ZONING

Commercial

APN/PARCEL ID

182105-9027

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.