21003 Pacific Hwy Sherwood, OR 97140
- Drive through restaurants
- 417 SF
- 0.16 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 21003 Pacific Hwy
- Year built
- 2007
- Lot size
- 0.16 lot acres
- Property size
- 417 SF
- Zone code
- RC
- Property type
- Drive through restaurants
- APN
- 2S130AD-15000
- APU
- 2S130AD15000
Description
This exceptional investment opportunity presents a 633 square foot, single-tenant, absolute triple-net (NNN) leased property occupied by a Ziggi's Coffee location in Sherwood, Oregon. The property sits on a 0.51-acre lot and boasts a new 20-year lease commencing October 1, 2024, and expiring September 30, 2044, with a corporate guarantee from Ziggi's Coffee. Rent increases of 7.5% every five years provide inflation protection. The property benefits from a prime location in a high-growth area with average household incomes exceeding $124,000 within a three-mile radius and an annual population increase exceeding the national average. The building, constructed and renovated in 2024, offers a hands-off investment opportunity with zero landlord responsibilities. The property's strong financial performance is reflected in a 6.25% cap rate and a net operating income (NOI) of $145,675. The lease includes six five-year renewal options. The property is situated near major retailers such as Safeway, Target, and Walmart, ensuring high visibility and foot traffic. Ziggi's Coffee's impressive growth trajectory, with over 92 existing locations and a pipeline of over 200 additional units, further solidifies this investment's potential. The tenant's strong financial health, evidenced by system-wide sales exceeding $40 million in 2023 and an EBITDA margin exceeding 18%, contributes to the overall attractiveness of this opportunity. This is a rare opportunity to acquire a high-performing, corporate-guaranteed, long-term net lease investment 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
- Sherwood
- County
- Washington
- State
- Oregon
- Longitude
- -122.847
- Latitude
- 45.368
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
