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7 0 5 8 & 7 1 5 0 W A - 3 0 3 | B R E M E R T O N , W A

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

Click For Drone Footage

Two Free Standing BuildingsTwo Free Standing Buildings

EXECUTIVE SUMMARY

TACO BELL & 2 TENANT BUILDING | BREMERTON, WA

PRICE:$3,350,000

CAP: 5.37%

NOI:$179,548

LOCATION:

BUILDING SIZE:

LAND SIZE:

GUARANTOR:

LEASE TYPE:

LEASE EXPIRATION:

YEAR BUILT:

LESSEE:

OPTIONS:

INCREASES:

ROFR:

7058 & 7150 WA-303Bremerton, Washington

Taco Bell: ±2,085 SF Taco Del Mar/Quiznos: ±2,872 SF

±1.07 Acres

*

Absolute NNN

*Taco Bell: 2018

Taco Del Mar/Quiznos: 2003

*

*

*

None

RETAIL INVESTMENT GROUP

ALL PHOTOS TAKEN SEPT. 24TH 2019*See Page 3

±33,559

PROPERTY OVERVIEW

±33,559

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 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.

• 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

Investment HighlightsVPDVPD

Subject Properties

TACO BELL & 2 TENANT BUILDING | BREMERTON, WA

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.

ABOUT BREMERTON

RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

RENT SCHEDULE

7058-7150 WA-303 Bremerton, Washington

RETAIL INVESTMENT GROUP

Tenant

*Orchard Foods

**PRAHB Inc.

**PRAHB Inc.

Total

Brand

Taco Bell

Quiznos

Taco Del Mar

Lease Start

Close of Escrow

09/01/2010

09/01/2010

Lease Expiration

01/31/2043

08/31/2020

08/31/2020

Lease Rate

$120,000

$39,000

$39,000

$198,000

Lease Type

Absolute NNN

NNN

NNN

CAM Expenses

$0

$9,228

$9,228

$18,457

NOI

$120,000

$29,772

$29,772

$179,543

Options

4 (5) Year Options

1 (5) Year Option

1 (5) Year Option

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

AERIAL MAP

Central Kitsap School District

WSDOT Park & Ride

SubjectProperty

±33,5

59 V

PD±3

3,559

VPD

ABOUT THE TENANTS

Taco Bell is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. They serve made-to-order and customized tacos and burritos, among other craveable choices, and are the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and more than 350 franchise organizations operate nearly 6,500 restaurants across the United States that proudly serve about 40 million customers every week.

At Orchard Foods, the standard is excellence. Founded in 1988, Orchard Foods opened their first store in 1988, and has since acquired a total of 20 stores, eventually selling several to arrive at it ’s current size of 12 stores. The company plans on expanding and building 4 or 5 additional stores in the coming years.

The little sub shop that began in 1981 in Denver, Colorado still has the same bold ideas that we had in the beginning. They believe food should taste great and only the highest quality ingredients should be used to create the perfect lunch. Known for making each sandwich toasted to perfection, Quiznos believes this method creates a more flavorful sandwich when compared to their cold competitors. You can’t fake quality. No mystery meat – Quiznos uses butcher-quality meats, all-natural cheeses, chef-designed signature sauces and toasted artisan bread.

Today, Quiznos is one of the most beloved brands in the $21 billion sandwich industry, with millions of devoted fans across the nation. With over 750 locations around the world, each individually owned and operated, Quiznos is focusing on a national expansion campaign with a plan to grow by hundreds of locations in the coming years.

Taco Del Mar started in 1992 when brothers James and John Schmidt opened the first restaurant in Seattle, Washington. The brand has now expanded to have over 260 locations in the United States and Canada and is headquartered in Lynwood, Washington.

Taco Del Mar is inspired by the Coastal Mexican Cuisine of Baja California in Mexico. The Baja attitude is about keeping it simple, fresh and carefree. Baja style Coastal Mexican Cuisine is all about light, flavorful tastes and natural heat from peppers like jalapeños and habaneros. At Taco Del Mar the menu features fresh ingredients, delicious guacamole, and slow-cooked meats like braised chicken and pulled port carnitas. Pair their legendary burritos and iconic Baja fish tacos with their signature white sauce, mango salsa or house made pico de gallo for a lunch or dinner that is sure to satisfy.

RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

AERIAL MAP

Seattle

±15 Miles

SubjectProperty

Bremerton

Port Orchard

Manchester

Edmonds

RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

ADDITIONAL PHOTOS

ALL PHOTOS TAKEN SEPTEMBER 2019RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

SITE SURVEY

Survey Overlay is Approximate, Buyer to Verify All Information

2019 DEMOGRAPHICS

2010 Population

2019 Population

2024 Population

2010 Households

2019 Households

2024 Households

State Hwy 303 NE

NE Fairgrounds Rd

NE McWilliams Rd

1-Mile 3-Mile 5-Mile VEHICLES PER DAY1-Mile 3-Mile 5-Mile

5-Mi

le Ra

dius

3-Mi

le Ra

dius

1-Mile

Radius

6,617 44,229 103,522

7,005 44,925 108,816

7,484 47,669 116,711

2,508 17,508 40,731

2,675 17,691 42,887

2,841 18,775 45,823

±34,590/VPD

±9,132/VPD

±6,550/VPD

BremertonBremertonSeattleSeattle

RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Retail Investment Group and it should not be made available to any other person or entity without the written consent of Retail Investment Group.

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Retail Investment Group. This offering memorandum has been prepared to provide summary, unverified financial

and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

Retail Investment Group has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.

The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment

Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

The information contained herein has been obtained from the owner of the property or from other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

If you have no interest in the Property, please return this Investment Offering Memorandum to Retail Investment Group, LLC.

8255 E Raintree Drive #100Scottsdale, AZ 85260T 480.429.4580 E info@retail1031.comwww.retail1031.com

Confidentiality& Disclaimer

RETAIL INVESTMENT GROUPTACO BELL & 2 TENANT BUILDING | BREMERTON, WA

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