Sonic (Dark) NNN Property For Sale — Poulsbo, WA
21895 Viking Ave NW, Poulsbo, WA 98370
An exceptional investment opportunity awaits with this Absolute NNN Sonic (dark) property. The lease offers an impressive 13 years remaining, providing long-term, passive cash flow. The property features attractive rent increases, including 3.7-4% annual increases over the first three years, followed by a 10% rent increase every five years, leading to a 7.23% cap rate effective September 2027. The lease is secured by a corporate guaranty from Sortis Income REIT, Inc., a substantial holding company with over $100,000,000 in assets and $17,000,000+ in annual net income. This prime location benefits from high traffic and excellent visibility, situated adjacent to HWY 3 at the corner of Viking Way and State HWY 305, with over 74,000 vehicles per day. The property also boasts great ingress/egr…
- Address: 21895 Viking Ave NW, Poulsbo, WA 98370
- Asking price $2.80M
- 6.10% cap rate
- NOI $170,800
- 10 years remaining
- NNN lease
- Year built: 2015
- Building size: 2,308 SF
- Lot size: 0.97 acres
- Lease expiration: Aug 31, 2036
- Rent increases: 9/1/2024 - 8/31/2025 (Year 8): $170,785 (4.00%); 9/1/2025 - 8/31/2026 (Year 9): $177,353 (3.85%); 9/1/2026 - 8/31/2027 (Year 10): $183,922 (3.70%); 9/1/2027 - 8/31/2031 (Years 11-15): $202,314 (10.00%); …
- Guarantor: Corporate
Location
This Sonic (Dark) property is at 21895 Viking Ave NW in Poulsbo, Washington.
Asset type: QSR