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Subway 109 Interstate Ave 1,334 SF Retail Building Chehalis, WA 98532 $200,000 ($149.93/SF) 8.75% Cap Rate

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EXECUTIVE SUMMARY

Established national restaurant tenant on a visible freeway location near the exit. This sale includes the building and ground lease, the land is not included. The lessee invested in a major interior upgrade last year. Both the lessee's 5-year renewal options and the ground lease run through 2043, inflation adjustments at renewals. Currently $3,000 rent minus $1,547 ground lease equals $1,453 net. Ownership has been pretty hands-off, tenant pays for everything except the ground lease. Long-term stable income. Feel free to drop in and have lunch. Please do not bother the staff without an appointment. Broker/owner.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,334 SF
Building Class
C
Year Built/Renovated
2003/2023
Price
$200,000
Price Per SF
$149.93
Cap Rate
8.75%
NOI
$17,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.30 AC
Opportunity Zone
Yes
Zoning
CF - Freeway commercial
Frontage
85’ on Interstate Avenue

AMENITIES

  • Freeway Visibility
  • Signage
  • Wheelchair Accessible
  • Air Conditioning

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Accommodation and Food Services
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • -

Subway® is simply the better choice for freshly made, convenient, and affordable food. For a reason, they are one of the world’s largest restaurant brands, serving up a crave-able menu with better options to their millions of fans, every day. Whether it’s their bread baked fresh daily, new flavorful signature subs or their classic fan favorites made fresh to order, Subway® delivers a quality, delicious meal that people can feel good about. The Subway® story began in 1965 when Fred DeLuca asked his family friend, Dr. Peter Buck, a nuclear physicist, for advice on how to pay his college tuition. With an idea to open a submarine sandwich shop and an initial investment from Dr. Buck, the two formed a business partnership that would ultimately change the landscape of the quick-service restaurant industry.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Accommodation and Food Services 99,999 SF $9.99 Lorem Ipsum -

NEARBY MAJOR RETAILERS

Denny's
Starbucks
Safeway
Chase Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
005871-072-009
Land Assessment
$229,500
Improvements Assessment
$528,000
Total Assessment
$757,500
  • Listing ID: 34160163

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 109 Interstate Ave, Chehalis, WA 98532

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