12848 Martin Luther King Jr Way - Convenience Store FOR SALE


Seattle, WA 98178- Bryn Mawr-Skyway
$4,936,800 USD
703-477-1315
12848 Martin Luther King Jr Way, Seattle, WA for Sale
$4,936,800 USD
Convenience Store - FOR SALE
1/18
null | 5% Cap Rate

12848 Martin Luther King Jr Way
Seattle, WA 98178
Bryn Mawr-Skyway


HIGHLIGHTS

  • Absolute NNN Lease | 10% Increase in 2031
  • Five, 5-Year Renewal Options | 7.5% Increase in Options 1-3 | FMRV Increase in Options 4 & 5
  • Long-Term Operating History of 43 Years
  • Located at the Signalized Intersection of Martin Luther King Jr. Way S (31,583 VPD) and South 129th Street
  • Feet from the On-Ramp to Interstate 5 (193,114 VPD) -- the main north-south route in the region
  • Seattle, WA MSA Advantage (MSA Population: 4.19M+)

OVERVIEW

The CBRE Net Lease Property Group is pleased to offer for sale the 2,428-square-foot 7-Eleven Gas Station & Convenience Store situated on 0.47 acre in Seattle, Washington (MSA Population: 4.19M+). 7-Eleven’s absolute NNN lease features ±10.5 years of primary term remaining with a 10% rent increase in 2031 and five, 5-year renewal options. Rent increases by 7.5% in the first three options and is set to FMRV in the fourth and fifth options.

FOR SALE DETAILS

PRICE

$4,936,800 USD

PRICE/SF

$2,033 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

CB, Seattle

APN/PARCEL ID

217200-0671

ASK ABOUT THIS PROPERTY

Thomas CarrCBREMore Info
703-477-1315

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Thomas CarrCBREMore Info
703-477-1315

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.