Newly Built Gas
21812 Mountain Hwy E, Spanaway, WA 98387
For Sale
New
$2,600,000
The property operates under a 20-year absolute NNN ground lease with a corporate guaranty from The Kroger Co.
Property Size240 SF
Lot Size1.85 Acres
Days on Market2
Property Features for 21812 Mountain Hwy E
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Traffic Count
Road Access
Automotive
Automotive Uses
Fuel Brand
Tenancy & Operations
Tenant in Place
In-Place Lease Type
Real Estate Included
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Faris Lee Investments
Listed By:
Hunter Steffien · License CA #02036521
(949) 633-2538
Source:
Farislee
Added: Nov 8
Changed: Nov 9
Last Checked: Oct 2 at 4:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Faris Lee Investments
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Investment Insights
Based on property information with market context.
This newly constructed Fred Meyer fuel center occupies a 1.85-acre parcel in Spanaway, Washington. The property is subject to a 20-year absolute NNN ground lease, with The Kroger Co. providing a corporate guaranty. The lease structure assigns no maintenance responsibilities to the landlord and includes contractual rent growth.
Two access points connect the site to Mountain Highway East, which carries approximately 24,200 vehicles per day. The fuel center is near the Fred Meyer-anchored Bethel Station shopping center, an established grocery destination with approximately 1.9 million annual visits. Fred Meyer’s grocery and fuel rewards program links the nearby store and fuel center.
Within five miles, the trade area has more than 107,700 residents and average household income exceeding $133,000. Three residential projects in the area account for 777 planned homes. Joint Base Lewis-McChord, Tacoma, and Frederickson employment centers are also identified as nearby demand sources.
Two access points connect the site to Mountain Highway East, which carries approximately 24,200 vehicles per day. The fuel center is near the Fred Meyer-anchored Bethel Station shopping center, an established grocery destination with approximately 1.9 million annual visits. Fred Meyer’s grocery and fuel rewards program links the nearby store and fuel center.
Within five miles, the trade area has more than 107,700 residents and average household income exceeding $133,000. Three residential projects in the area account for 777 planned homes. Joint Base Lewis-McChord, Tacoma, and Frederickson employment centers are also identified as nearby demand sources.
Key Highlights
- Newly constructed Fred Meyer fuel center on a 1.85‑acre parcel
- 20‑year absolute NNN ground lease with a corporate guaranty from The Kroger Co.
- Two access points on Mountain Highway East, carrying approximately 24,200 vehicles per day
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
24,200 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Carstar Mountain Highway
Shops & Services
799 visits/mo
0.2 miles
Northwest Self Storage
Shops & Services
527 visits/mo
0.5 miles
Demographics for 98387, WA
51,630
Population
17,151
Households
3
Avg Household Size
35
Median Age
17%
College-Educated
91%
High-School Grad
26.6 sq mi
ZIP Area
1,941
Density / Sq Mi
$101,141
Median Household Income
$54,167
Median Earnings
$1,837
Median Rent
$424,100
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Gas station - The property operates under a 20-year absolute NNN ground lease with a corporate guaranty from The Kroger Co.
Where is this gas station located?
The property is located at 21812 Mountain Hwy E Spanaway, WA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Newly constructed Fred Meyer fuel center on a 1.85‑acre parcel; 20‑year absolute NNN ground lease with a corporate guaranty from The Kroger Co.; Two access points on Mountain Highway East, carrying approximately 24,200 vehicles per day
