Lee & Associates and Bang Realty are pleased to present the opportunity for a qualified investor to acquire Fee Simple interest (land & building) in Carl’s Jr. “Subject Property”, located at 17804 Canyon Road East, in Frederickson, WA (Tacoma MSA). Built in 2017, the Subject Property consists of a 2,678 square foot drive-through building that resides on a 0.65-acre parcel. The Subject property is leased to NorthWest Foods, L.P dba Carl’s Jr. on a 20-year absolute triple-net (NNN) lease that commenced on April 1, 2017, and expires on March 31, 2037. There are 14 years of lease term remaining and the lease (3)-5-year renewal option periods lease provides for a 2.5% rental increase starting in year 11 of the initial lease term. The 2.5% increases continue every 5 years through the option periods. NorthWest Foods is an experienced 30+ year operator, with Carl’s Jr. locations throughout the State of Washington and Northern California. They opened their first Carl’s Jr. location in Tacoma back in 2006, to record setting sales numbers. According to a recent Restaurant Trends report (see broker for details), Carl’s Jr. location reported estimated annual gross sales of $2,364,000 (12 trailing months), and $2,319,000 the previous year. This equates to a healthy 6.5% rent to sales ratio. The property is located off the largest physical intersection in Pierce County, with visibility to a combined traffic count of 66,000 vehicles per day. Carl’s Jr. sits as an outparcel within Frederickson Place Shopping Center and is shadow anchored by Canyon Crossings, a 120,000 square foot Safeway shopping center. The property pulls vital commuter traffic from nearby Joint Military Base Lewis McChord (57,000 employees) and a 5.8 million square foot industrial park, housing several well-known companies such as Boeing, Whirlpool, IKEA, LG, and SeaTac.