Listed by Northmarq - Seattle, Northmarq
$2,590,000
Buffalo Wild Wings
Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,243
Net Rentable (SqFt) 6,243
Units 1
Cap Rate 4.75%
NOI $121,000
Occupancy 100%
Tenancy Single
Brand/Tenant Buffalo Wild Wings
Lease Type NNN
Lease Term 15
Lease Expiration 06/30/2028
Remaining Term 2
Rent Bumps Yes
Lease Options 3; 5YR
Class B
Year Built 2013
Acreage 0.910
Zoning Commercial
Investment Type Net Lease
Lease Commencement 07/01/2013
Ground Lease Yes
Retail | 4.75% CAP | 6,243 SqFt
Marketing description
High Performing, Below Market Rent Buffalo Wild Wings Ground Lease on Prime Corner Location
Investment highlights
- BELOW-MARKET RENT WITH SIGNIFICANT UPSIDE: Current total rent of approximately $123,000/year is estimated to be 30–50% below market for national casual dining and QSR pad tenants in this corridor. A 10% rent increase will take effect in the next option period, set to start 7/1/2028.
- NNN* GROUND LEASE: This is a net ground lease with minimal landlord responsibilities. Rents increase 10% at the beginning of each of the next 2, 5-year options, with a fair market reset on the final 5-year option.
- HIGH-PERFORMING PROMINENT CORNER LOCATION OFF HWY-101: The Property occupies a highly visible corner pad at the intersection of Hwy-101 and Black Lake Blvd SW, which combine for over 110,000 vehicles per day. The site is within the greater Olympia West Center, a Trader Joe's anchored shopping center. Haggen grocery is directly across the street and Capitol Mall is just three blocks away. This location recorded over 290K annual visits in the past year, ranking in the top 12% of all locations nationwide. The tenant also reports sales.
- STRONG REGIONAL DEMOGRAPHICS: Olympia is the state capital of Washington and the county seat of Thurston County. The region benefits from a stable, government-driven employment base, including the Washington State Legislature, numerous state agencies, and Joint Base Lewis-McChord located approximately 20 minutes to the north.
Listing Contacts
Listed by Northmarq - Seattle, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$121,000.00
$10,083.33/mo
Valuation Metrics
0
DSCR
4.67%
Cap Rate
4.67%
ROI
Map
Zoning
HDC-4 ResidentialMulti FamilyHigh Density Corridor 4
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View all 136 uses
View all 136 uses Last updated Jun 1, 2026 For deeper zoning details, reports are available at Zoneomics
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