11606 Canyon RdPuyallup, WA 98373

Property Details for 11606 Canyon Rd

Year built

2024

Lot size

1.73 AC

Property size (Sq ft)

3,588 SF

Property type

Retail properties

Property subtype

Other specialty 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.

Location Insight

City

Puyallup

County

Pierce

State

Washington

Latitude

47.1474

Longitude

-122.324

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