3848 Mckinley Ave Tacoma, WA 98404-2940

Property Details for 3848 Mckinley Ave

Lot size

0.09 lot acres

Zone code

C1

Property type

Commercial land

APN

7470010360

APU

7470010360

Description

This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store in Tacoma, WA. Boasting a strong operating history of approximately 60 years, this 2,501 square foot property sits on a 0.31-acre lot with 14 parking spaces. The property benefits from a long-term, absolute triple-net (NNN) lease with approximately 10.9 years remaining, followed by three 5-year renewal options, featuring rent bumps of 7.5% during the base term and 10% during the options. The tenant, 7-Eleven, is an investment-grade credit rated corporation, providing financial stability and security. The property enjoys a prime location at a signalized intersection with significant frontage, offering excellent visibility and accessibility. Its strategic location near major highways (I-5, I-705, Route 7), the University of Washington Tacoma, the Port of Tacoma, and other key attractions ensures consistent high traffic and customer volume. The property generates a substantial net operating income (NOI) of $100,000, resulting in a 5.00% cap rate. This recession-proof, e-commerce resistant investment offers passive ownership with zero landlord responsibilities, further enhanced by Washington State's lack of personal or corporate income tax. Built in 1969, this property represents a secure and lucrative addition to any portfolio.