Retail Business for Sale in Tacoma, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Tacoma, WA 98444

Description

Marcus & Millichap has been selected to exclusively market for sale a high-performing Denny's in Tacoma, WA, secured by a brand-new 20-year absolute net lease to be executed at closing. The lease offers long-term, passive cash flow, zero landlord responsibilities, 10% rent escalations every five years, and a guarantee from Awashington, LLC (16 WA locations, $30M+ in annual sales). The restaurant is operated by The Keshap Group — a multi-brand franchisee with 25+ years of experience, 40 Denny's, 20 Papa John's, and four Dave's Hot Chicken restaurants. This Denny's ranks in the top 22% of all restaurants in Washington state (per Placer.ai). The property is strategically located directly off Interstate-5 (167,000+ VPD), offering excellent visibility, prominent signage, and convenient ingress and egress. It benefits from a strong hotel corridor with limited nearby competition, including Holiday Inn Express, Hampton Inn & Suites, Best Western Plus, and several other national brands driving steady customer traffic. The property was extensively renovated in 2022 to Denny's modern prototype standards. The site serves approximately 274,000 residents within 5 miles, with average household incomes exceeding $98,000, in income tax-free Washington state. Investment Highlights: • Brand New 20-Year Absolute Net Lease • High-Performing Location | Top 22% in Washington State • Strong Franchisee Guarantee and Experienced Multi-Brand Operator • 10% Rent Increases Every 5-Years • High-Visibility Location Adjacent to Interstate-5 (167,000+ VPD) • Strategic Hotel and Apartment Corridor Location with Limited Competition • Extensively Renovated in 2022 Reflecting Denny's Modern Prototype Design • Strong, Affluent Demographics

Market Context

This retail in Tacoma, WA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 68 days. Compare it against other retail listings for sale in Tacoma, WA — <a href="/search/sale/retail/washington/tacoma">view the full market</a>.

As of Q1 2026, the Seattle / Bellevue retail market showed a 16.8% vacancy rate, and cap rates around 7.6%. Source: Www.lee-Associates.com Q1 2026 market report.

Its 6.0% asking cap rate is below the Seattle / Bellevue retail market average of about 7.6%, reflecting premium pricing relative to comparable assets. Above-average vacancy gives buyers leverage and a wide set of comparables.

Retail market FAQ

What is the typical cap rate for retail in Seattle / Bellevue?
About 7.6% as of Q1 2026, per Www.lee-Associates.com.
Is the Seattle / Bellevue retail market tightening or softening?
Vacancy is around 16.8% (Q1 2026).

Unified Estimate

Low Confidence

$743.75/SF – $1,006/SF

Mid: $875.00/SF

Rate estimator only; cost-of-business estimate unavailable.

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