1416 Harvey Rd - Drug Store FOR SALE


Auburn, WA 98002- North Auburn
$5,800,000 USD
425-586-5646
1416 Harvey Rd, Auburn, WA for Sale
$5,800,000 USD
Drug Store - FOR SALE
1/2
null | 8.5% Cap Rate

1416 Harvey Rd
Auburn, WA 98002
North Auburn


OVERVIEW

Colliers is pleased to present the exclusive offering of 1416 Harvey Road. Built in 2006, the 14,560 SF on a 79,404 SF lot building operates as a Walgreens Drugstore in Auburn, WA. There is 56 years left of a 75 year lease, Walgreens has indicated they intend to stay long term. A NNN Lease Base Rent is $492.999.96 per year. The lease includes potential for percentage rent if sales exceed NNN Lease has a percentage rent override of 2.0% of gross sales and 0.5% of food and prescriptions.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$453 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

78

LAND DETAILS

LAND ACRES

1.82 AC

LAND SF

79,404 SF

ZONING

C3, Auburn

APN/PARCEL ID

257840-0050,257840-0070

ASK ABOUT THIS PROPERTY

Ryan OlsonColliersMore Info
425-586-5646

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Ryan OlsonColliersMore Info
425-586-5646

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