5822 Road 68, Pasco, WA 99301
1,500 SF | 100% Leased | Retail Building | Pasco, WA 99301 | $2,090,000 ($1,393/SF) | 5.75% Cap Rate
For Sale
Active
Asking Price $2,090,000
- Property Type
-
Retail
- Square Feet
- 1,500 SF
- Price / Square Foot
- $1,393
Listing Contacts
Sean Mack
Property Overview
The offering provides the opportunity to acquire a newly constructed three service bay Take 5 Oil with frontage on Road 68 in Pasco, Washington. Take 5 Oil operates on a 10-year, triple net lease, with scheduled rent growth provided by 10% rent increases every five years and is expected to grow an investor’s yield by 57 basis points after the first five years. The Property has frontage on a prominent retail arterial in Pasco and is also accompanied by new developments in the nearby surrounding area. Additionally, the Property is shadow-anchored by a major grocery-anchored shopping center featuring tenants including Grocery Outlet, Dollar Tree, Planet Fitness, and more.
Property Details
- Year Built
- 2024
- Stories
- 1
- Lot Size (sq. ft)
- 13,504 SF
Highlights
- Brand-new build-to-suit construction with three service bays, and rent commencement on June 1, 2024
- NNN Lease structure with 10% rental escalations every 5 years including at the beginning of each of the three, five-year options
- Experienced multi-unit operator with more than five current locations and expanding
- Adjacent to 11,500 square foot Davita Dialysis center which is currently under construction, and will be one of largest in the state of Washington
- High-exposure location with frontage on Road 68 and average daily traffic of 22,000+ VPD
- There are new developments in the area including Starbucks (also available for sale, please contact Northmarq for more information) Popeye’s, and more
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