1515 132ND STREET SE, EVERETT, WA OFFERING MEMORANDUM NET LEASE INVESTMENTS EXCLUSIVELY OFFERED BY: KEVIN HELD +1 858 546 5428 | CA Lic #01240358
[email protected] SURROUNDING RETAIL N JACK IN THE BOX | EVERETT, WA 2 EXECUTIVE SUMMARY Jack in the Box Properties, LLC TENANT: (predecessor in interest to Jack in the Box, Inc.) LOCATION: 1515 132nd Street SE Everett, WA 98208 BUILDING SIZE: 2,800± square feet LAND SIZE: 28,191± square feet 2000, 2020 Fully Remodeled YEAR BUILT: (~$820,000 cost) RENT EXTENSION START August 9, 2020 DATE: LEASE EXPIRATION: August 8, 2030 OPTIONS: Four (4) five (5) year options 10% every 5 years including INCREASES: options Absolute NNN Lease LEASE TYPE: (Land & Building) PRICE CAP NOI $3,388,235 4.25% $144,000 Actual Property JACK IN THE BOX | EVERETT, WA 3 20 YEAR HISTORIC OCCUPANCY / HIGH SALES LOCATION HIGH TRAFFIC INTERSECTION WITH ~50,000 CARS PER DAY • Outparcel to Dominant Grocery / Drug Center Anchored by Fred Meyer and Walgreens • Located at main north south / east west intersection in trade area EARLY CORPORATE 10 YEAR LEASE EXTENSION LONG TERM COMMITMENT TO THE SITE • ~$820,000 Building Remodel to new Jack in the Box Prototype • 20 year Franchisee agreement extension (Corporate Entity on the Lease) 10% RENT INCREASES EVERY 5 YEARS RARE WA STATE ABSOLUTE NET LAND AND BUILDING QSR LEASE / TAX BENEFITS • Potential for significant accelerated depreciation for tax sheltered cash flow • Corporate QSR’s rarely on the market in Seattle MSA • Tax Free State Actual Property JACK IN THE BOX | EVERETT, WA 4 PROXIMITY TO DOWNTOWN SEATTLE N 5 405 5 ~19 MILES TO DOWNTOWN SEATTLE 405 DOWNTOWN SEATTLE 90 JACK IN THE BOX | EVERETT, WA 5 SITE N JACK IN THE BOX | EVERETT, WA PARCEL LINES FOR ILLUSTRATIVE PURPOSES ONLY 6 SITE PLAN N S50°00'32"E 46.15' 1 42"w LOADING RAMP EXISTING 2 42"w LOADING RAMP, ALT.