deal image
15006 Hwy 99Lynnwood, WA 98087
Grease Monkey
Asset ClassRetail
Lease-Term Remaining20 Years
Deal Size: $1.3 MCap Rate: 7%Square Feet: 2,964Access Data Room
New 20 Year Absolute NNN Lease
overview of deal

Overview

  • Price: $1,300,000
  • Cap Rate: 7.00%
  • NOI: $91,000
  • Lease Type: Abs NNN
  • Lease Term Remaining: 20 Yrs at COE
Access the Data Room

Investment Highlights

BRAND NEW 20-YEAR LEASE COMMENCING AT CLOSE OF ESCROW | ABSOLUTE NNN STRUCTURE - Long-term 20-year lease commencing at close of escrow - Brand new lease with zero landlord responsibilities (absolute NNN) - Long-term income security backed by a newly executed lease structure - Stabilized cash flow with minimal management requirements

 

AFFLUENT SUBURB | $121K+ AVERAGE HOUSEHOLD INCOME (3-MILE RADIUS) - Located in a high-income suburban trade area - Average household income of $121K+ within a 3-mile radius - Strong consumer spending power and durable retail demand - Supports premium service and automotive-oriented uses

 

STRONG STORE-LEVEL FINANCIALS | 2.81X EBITDAR COVERAGE RATIO - Exceptional 2.81x EBITDAR coverage demonstrating strong performance - Significant cash flow cushion above lease obligations - Indicates highly profitable and well-performing store economics - Reduces operational risk and supports long-term rent durability

 

EXPERIENCED FRANCHISEE | MB PARTNERS LLC (4-UNIT GREASE MONKEY OPERATOR) - Tenant is MB Partners LLC, a seasoned multi-unit operator of Grease Monkey - Operates four locations throughout the Seattle metropolitan area - Proven track record of operational efficiency and disciplined management - Strong franchise system support and regional market expertise

deal gallery image
deal gallery image
deal gallery image
15006 Hwy 99Lynnwood, WA 98087
deal image

Inquire

Listing provided by LightBox Revere