Listed by First Western Properties, Inc. Tacoma
$1,200,000
8500 Evergreen Way
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,192
Cap Rate 6.18%
NOI $74,160
Tenancy Single
Lease Type NNN
Lease Term 7
Lease Expiration 09/30/2032
Remaining Term 6.3
Rent Bumps Yes
Lease Options One (1) Five (5) year option to renew at Fair Market Value
Year Built 1976
Year Renovated 2025
Acreage 0.810
Investment Type Net Lease
Tenant Credit No Credit Rating
Lease Commencement 09/29/2025
Ground Lease No
Mexican QSR Drive Thru | 6.18% CAP | 3,192 SqFt
Marketing description
Excellent opportunity to acquire a fully remodeled drive-thru QSR investment located on high-traffic Evergreen Way in Everett. The property is leased to El Molino Mexican Cocina & Tortilleria, local operator with strong community roots and a personal guarantee. Current rental rate is estimated to be below market, providing investors with meaningful upside through the lease’s fair market value renewal option in 2032. Features include annual rent increases, strong visibility, and positioning within a dense retail corridor surrounded by national tenants and significant daily traffic counts.
Investment highlights
- Drive Thru QSR Net Lease Investment
- 3,192 SF with Drive Thru
- 0.81 Acres (35,284 SF)
- Year Built: 1976 (Remodeled 2025)
- Tenant: El Molino Mexican Cocina & Tortilleria (with personal guarantee)
- Lease Expiration: September 2032
- Current Rent: $74,160/year (as of Sept 2026)
- One (1) Five (5) year option to renew at Fair Market Value
- 3% annual increases
- Below market rents!
Listing Contacts
Listed by First Western Properties, Inc. Tacoma
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$74,160.00
$6,180.00/mo
Valuation Metrics
0
DSCR
6.18%
Cap Rate
6.18%
ROI
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