11606 Canyon Rd Puyallup, WA 98373
- Specialty properties
- 3,588 SF
- 1.73 lot acres
Current Use by Public Records
- Westside Septic Design Llc / Septic System Service
Property Details for 11606 Canyon Rd
- Year built
- 2024
- Lot size
- 1.73 lot acres
- Property size
- 3,588 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, 20-year corporate ground lease for a Quick Quack Car Wash, a prominent car wash brand with over 230 locations across the Western United States. Located at 11606 Canyon Rd E, Puyallup, WA 98373, this 3,588 square foot facility sits on a 1.73-acre lot and boasts excellent visibility and access along Canyon Road East (55,025 AADT), near the junction with WA-512 (93,000 AADT). Built in 2024, the property benefits from a strong demographic profile, with a population of 237,317 within a 5-mile radius, an average household income of $132,902 within 3 miles, and an average home value of $616,265 within 1 mile. The location is strategically positioned near shopping centers, major retailers, employers, and schools, including Joint Base Lewis-McChord (approximately 6 miles) and Pacific Lutheran University (approximately 5 miles). Puyallup's established suburban setting, proximity to Tacoma and Seattle, and the annual Washington State Fair further enhance the property's appeal. The lease includes ten (10) five-year options with rent bumps of 102.5% every five years. The asking price is $3,451,000, representing a 5.65% cap rate and a net operating income (NOI) of $195,000. This is a rare opportunity to acquire a high-performing asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Puyallup
- County
- Pierce
- State
- Washington
- Longitude
- -122.324
- Latitude
- 47.1474
