21003 Pacific HwySherwood, OR 97140

Property Details for 21003 Pacific Hwy

Year built

2007

Lot size

0.16 AC

Property size (Sq ft)

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.

Location Insight

City

Sherwood

County

Washington

State

Oregon

Latitude

45.368

Longitude

-122.847

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].