Zip’s Drive-In
7.50% CAP I Airway Heights, WA
Marketing description
- Minimal Landlord Responsibilities: Operating under a Triple Net (NNN) lease, Zip's Drive-In assumes nearly all property expenses, including taxes, insurance, and maintenance, protecting future ownership from rising operating expenses.
- Long-Term Tenant Commitment: Zip's Drive-In has occupied the building since it was constructed in 1987, and recently executed a new 20-year lease in 2020, demonstrating their commitment to the location.
- Built-in Inflation Protection: Future ownership will benefit from 3% rent increases every year beginning in 2030, offering a hedge against inflation and consistent rent growth through 2039.
- Well Established Operator: The current operator has been with Zip's Drive-In for over 25 years, and has been at this location since 2009.
- Prominent Retail Corridor: Located on West Sunset Highway (US-2), Airway Heights’ primary retail corridor, the property is surrounded by national retailers including Yoke’s, Walmart, AutoZone, and Domino’s, reinforcing the area’s long-term viability as the region’s retail hub.
- Minimal Sub-Market Vacancy: According to CoStar, retail vacancy within Airway Heights is less than 1.5% as of Q2 2025.
Investment highlights
The Verger Team is pleased to present the opportunity to acquire a Single-Tenant NNN Zip’s Drive-In with over 14 years remaining on the lease.
The property features 3% annual rent escalations beginning in 2030, providing both a hedge against inflation and consistent rent growth through 2039.
Strategically located on West Sunset Highway (US-2), Airway Heights’ primary retail corridor, the property is surrounded by national retailers including Yoke’s, Walmart, AutoZone, and Domino’s. Its frontage along US-2, with convenient access to Interstate 90 and Spokane International Airport, ensures excellent visibility and strong regional connectivity.
With less than 1.5% retail vacancy in the Airway Heights market as of Q2 2025 (CoStar), this offering represents a rare opportunity to acquire a high-performing, long-term leased asset in one of the most desirable submarkets in the region.
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