PRICE: $3,350,000 | CAP: 5.37% - INVESTMENT OFFERING - Two Free Standing Buildings - Retail Investment ...
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Two Free Standing Buildings
7058 & 7 150 WA-303 | BREMERTON, WA
PRICE: $3,350,000 | CAP: 5.37%
I N V E S T M E N T O F F E R I N G
EXECUTIVE SUMMARY
PRICE: CAP: NOI:
$3,350,000 5.37% $179,548
7058 & 7150 WA-303
LOCATION: Bremerton, Washington
Taco Bell: ±2,085 SF
BUILDING SIZE: Taco Del Mar/Quiznos: ±2,872 SF
LAND SIZE: ±1.07 Acres
GUARANTOR: *
LEASE TYPE: Absolute NNN
LEASE EXPIRATION: *
Taco Bell: 2018
YEAR BUILT: Taco Del Mar/Quiznos: 2003
LESSEE: *
OPTIONS: *
INCREASES: Taco Bell: 7.5% Every 5 Years
ROFR: None
*See Page 3
ALL PHOTOS TAKEN SEPT. 24TH 2019
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
PROPERTY OVERVIEW
Retail Investment Group is pleased to be the exclusive listing agent
for the Taco Bell and Taco Del Mar/Quiznos property in Bremerton,
Washington. The property is surrounded by single-family homes, Olympic
Village Apartments and numerous retailers and churches. Some of those
retailers include: Starbucks, McDonald’s, Walmart, Safeway, Walgreens,
Burger King, Les Schwab Tire Center, Central Valley Garden Supply and
Subject
Properties Chevron. This Taco Bell is ±0.5 miles from the Kitsap Tennis and Athletic
Center and ±1 mile from Esquire Hills Elementary School and Bremerton
Skateland. The Taco Bell offers an Absolute NNN Lease, while the Quizno’s/
Taco Del Mar offers an NNN lease. Taco Bell offers 4 (5) Year Options and
Quizno’s/Taco Del Mar offers 1 (5) Year Option. Both are located on the WA-
303 HWY seeing more than ±33,000 vehicles per day. These properties
are located ±15 miles from Seattle WA, the 18th most populous city in the
US with more than ±724,700 people.
VPD Investment Highlights
, 55 9
± 3 3 • Leases are NNN
• Taco Bell is a Brand New 23-Year Sale Leaseback at COE with (4)
5-Year Options
• Located on Busy HWY 303 which sees more than ±33,000 VPD
• Located ±15 miles from Seattle, Washington (more than
±724,700 in population)
• Taco Bell - Brand New Building Built in 2018 Taco Del Mar/
Quiznos Built in 2003
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA
ABOUT BREMERTON
Bremerton is known as a beautiful harborside city home to ±41,235 people, and is part of the Bremerton-Silverdale MSA which is home to a combined ±269,805
people. Bremerton is east of the Olympic Mountains and less than an hour ferry ride from downtown Seattle. The Port of Bremerton Marina has over 300 boat
slips. The popular Arts District found along the water has attractions like the Puget Sound Navy Museum, USS Turner Joy, PSNS Memorial Plaza and the boardwalk.
Across the Manette Bridge there are numerous restaurants, cafes and places to shop. Bremerton has numerous parks including Harborside Fountain Park, Kitsap
Lake Park, Lions Park, Evergreen Rotary Park and Lent Landing Park. The Gold Mountain Golf Course consists of two 18 hole championship courses which has
hosted multiple NCAA events and more. The Kitsap County Naval Base is by far the city’s largest employer followed by Harrison Medical Center.
Bremerton frequently has local events such as First Friday Art Walk at the Bremerton Arts District, community farmers markets and organized inlet cleanups.
Bremerton also has live shows at the Admiral Theatre, Bremerton Community Theatre, Bremerton Symphony, Kitsap Opera and the Peninsula Dance Theatre for
those interested in performing arts. The City is known for it’s local charm and frequently draws visitors from all over the Greater Seattle area.
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
RENT SCHEDULE
7058-7150 WA-303 Bremerton, Washington
Tenant Brand Lease Start Lease Expiration Lease Rate Lease Type CAM Expenses NOI Options
*Orchard Foods Taco Bell Close of Escrow 01/31/2043 $120,000 Absolute NNN $0 $120,000 4 (5) Year Options
**PRAHB Inc. Quiznos 09/01/2010 08/31/2020 $39,000 NNN $9,228 $29,772 1 (5) Year Option
**PRAHB Inc. Taco Del Mar 09/01/2010 08/31/2020 $39,000 NNN $9,228 $29,772 1 (5) Year Option
Total $198,000 $18,457 $179,543
Notes
*Brand new 23 year sale leaseback to commence at close of escrow. 6 unit guarantee from Orchard Foods
**Expenses cover alarm, building maintenance, garbage, insurance, property tax, and Owner’s Association Dues
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
AERIAL MAP
Subject
Property
±33,559 VPD
Central Kitsap
School District
WSDOT
Park & Ride
ABOUT THE TENANTS
Taco Bell is the nation’s leading Mexican-inspired The little sub shop that began in 1981 in Denver, Taco Del Mar started in 1992 when brothers James
quick service restaurant (QSR) brand. They Colorado still has the same bold ideas that we had and John Schmidt opened the first restaurant in
serve made-to-order and customized tacos and in the beginning. They believe food should taste Seattle, Washington. The brand has now expanded
burritos, among other craveable choices, and great and only the highest quality ingredients to have over 260 locations in the United States
are the first QSR restaurant to offer American should be used to create the perfect lunch. Known and Canada and is headquartered in Lynwood,
Vegetarian Association (AVA)-certified menu for making each sandwich toasted to perfection, Washington.
items. Taco Bell and more than 350 franchise Quiznos believes this method creates a more
organizations operate nearly 6,500 restaurants flavorful sandwich when compared to their cold Taco Del Mar is inspired by the Coastal Mexican
across the United States that proudly serve about competitors. You can’t fake quality. No mystery Cuisine of Baja California in Mexico. The Baja
40 million customers every week. meat – Quiznos uses butcher-quality meats, all- attitude is about keeping it simple, fresh and
natural cheeses, chef-designed signature sauces carefree. Baja style Coastal Mexican Cuisine is
At Orchard Foods, the standard is excellence. and toasted artisan bread. all about light, flavorful tastes and natural heat
Founded in 1988, Orchard Foods opened their first from peppers like jalapeños and habaneros. At
store in 1988, and has since acquired a total of 20 Today, Quiznos is one of the most beloved brands Taco Del Mar the menu features fresh ingredients,
stores, eventually selling several to arrive at it’s in the $21 billion sandwich industry, with millions delicious guacamole, and slow-cooked meats
current size of 12 stores. The company plans on of devoted fans across the nation. With over 750 like braised chicken and pulled port carnitas. Pair
expanding and building 4 or 5 additional stores in locations around the world, each individually their legendary burritos and iconic Baja fish tacos
the coming years. owned and operated, Quiznos is focusing on a with their signature white sauce, mango salsa or
national expansion campaign with a plan to grow house made pico de gallo for a lunch or dinner
by hundreds of locations in the coming years. that is sure to satisfy.
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
AERIAL MAP
Edmonds
±15 Miles
Seattle
Subject
Property
Manchester
Bremerton
Port Orchard
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
ADDITIONAL PHOTOS
ALL PHOTOS TAKEN SEPTEMBER 2019
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUP
SITE SURVEY Survey Overlay is Approximate, Buyer to Verify All Information
2019 DEMOGRAPHICS
i us
R ad
s
5-Mile
diu
e Ra
ius
ad
3-Mil
1-Mile R
Seattle
Bremerton
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile VEHICLES PER DAY
2010 Population 6,617 44,229 103,522 2010 Households 2,508 17,508 40,731 State Hwy 303 NE ±34,590/VPD
2019 Population 7,005 44,925 108,816 2019 Households 2,675 17,691 42,887 NE Fairgrounds Rd ±9,132/VPD
2024 Population 7,484 47,669 116,711 2024 Households 2,841 18,775 45,823 NE McWilliams Rd ±6,550/VPD
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUPConfidentiality
and physical information to prospective Group has not verified, and will not verify, any of
purchasers, and to establish only a preliminary the information contained herein, nor has Retail
level of interest in the subject property. The Investment Group conducted any investigation
& Disclaimer
information contained herein is not a substitute regarding these matters and makes no warranty
for a thorough due diligence investigation. or representation whatsoever regarding the
accuracy or completeness of the information
Retail Investment Group has not made any provided.
investigation, and makes no warranty or
representation with respect to the income or All potential buyers must take appropriate
The information contained in the following expenses for the subject property, the future measures to verify all of the information set
offering memorandum is proprietary and projected financial performance of the property, forth herein. Prospective buyers shall be
strictly confidential. It is intended to be reviewed the size and square footage of the property and responsible for their costs and expenses of
only by the party receiving it from Retail improvements, the presence of absence of investigating the subject property.
Investment Group and it should not be made contaminating substances, PCBs or asbestos,
available to any other person or entity without the compliance with local, state and federal The information contained herein has been
the written consent of Retail Investment Group. regulations, the physical condition of the obtained from the owner of the property or
improvements thereon, or financial condition from other sources we deem reliable. We
By taking possession of and reviewing the or business prospects of any tenant, or any have no reason to doubt its accuracy, but we
information contained herein the recipient tenant’s plans or intentions to continue its do not guarantee it.
agrees to hold and treat all such information in occupancy of the subject property. Additional
the strictest confidence. The recipient further information and an opportunity to inspect the If you have no interest in the Property, please
agrees that recipient will not photocopy or Property will be made available upon written return this Investment Offering Memorandum
duplicate any part of the offering memorandum. request to interested and qualified prospective to Retail Investment Group, LLC.
If you have no interest in the subject investors.
property, please promptly return this offering 8255 E Raintree Drive #100
memorandum to Retail Investment Group. The information contained in this offering Scottsdale, AZ 85260
This offering memorandum has been prepared memorandum has been obtained from sources T 480.429.4580 E info@retail1031.com
to provide summary, unverified financial we believe reliable; however, Retail Investment www.retail1031.com
TACO BELL & 2 TENANT BUILDING | BREMERTON, WA RETAIL INVESTMENT GROUPcontact us 8255 East Raintree Drive Suite 100 Scottsdale, Arizona 85260 480.429.4580 | www.retail1031.com
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