22633 Marine View Dr S 2,397 SF Retail Building Des Moines, WA 98198 $6,166,845 CAD ($2,572.73 CAD/SF) 4.46% Cap Rate

This offering presents a rare opportunity to acquire a 100% leased, single-tenant retail asset occupied by Jack in the Box, Inc. in the highly accessible and densely populated submarket of Des Moines. The ±2,397 SF building is situated on ±23,630 SF of land at the intersection of Marine View Drive and S 227th Street, benefiting from excellent visibility and proximity to Des Moines Marina and Seattle-Tacoma International Airport, along with limited fast-food competition in the immediate area. The property features a long-term lease through November 2029, with four 5-year renewal options and CPI-based rent escalations, providing stable cash flow within the growing Puget Sound corridor.
Investment Thesis:
Dense, infill suburban market with stable consumer demand
Supply-constrained retail environment supporting long-term rent growth
Strong traffic drivers (Airport, Marina, commuter corridors)
Limited direct fast-food competition ? high tenant sustainability