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Sportsman's Warehouse | 9+yrs Remain Corp NNN 611 Valley Mall Pky

46,488 SF Retail Building East Wenatchee, WA 98802 $3,347,000 ($72/SF) 6.25% Cap Rate

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Investment Highlights

Over 9 Years Remaining | Options To Extend | 10 Year Operating History | Corporate Guaranteed
Located Just Off State Highway 28 | Direct Roundabout Access to State Highway 285 | Excellent Visibility and Access
Strong Demographics In 5-Mile Trade Area

NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
Located in Dominant Regional Shopping Center | National/Credit Tenant Presence

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a single tenant, Sportsman’s Warehouse investment property located in East Wenatchee, Washington. The tenant, Sportsman’s Warehouse, Inc, has occupied the property for over 10 years and recently extended its lease through 2033 with 3 (5-year) options to extend. The lease features 5% rental increases at the beginning of each option period, growing NOI and hedging against inflation. Sportsman’s Warehouse is a top sporting goods retailer in the United States. The company closed out a strong 2022 with $1.40 billion in revenue and EBIT over $858 million. Sportsman’s Warehouse currently operates 146 locations across the United States. (NASDAQ: SPWH) is a publicly traded company with a current market cap of $200 million as of Oct-2023.