17615 SE 272nd St - Retail FOR SALE


Covington, WA 98042
$4,400,000 USD
206-747-4338
17615 SE 272nd St, Covington, WA for Sale
$4,400,000 USD
Retail - FOR SALE
1/6
null | 5.7% Cap Rate

17615 SE 272nd St
Covington, WA 98042


HIGHLIGHTS

  • First time on the market since originally constructed in 1989
  • The center has been extremely well-maintained, including a newer roof, exterior paint, seal coating, HVAC and landscaping
  • All tenants operate on NNN leases, allowing for full reimbursement of operating expenses
  • Located at a signalized corner featuring over 28k VPD and surrounded by national retailers such as Chick-Fil-A, McDonald’s, O’Reilly Auto
  • Covington is experiencing a surge in housing development, with approximately 400+ units under construction

OVERVIEW

Kidder Mathews is pleased to present for the first time ever the opportunity to acquire Covington Plaza, a high-quality retail center containing a mix of long-standing retail and dental/medical tenants. This is an incredible opportunity for an investor looking for a turn-key opportunity with substantial upside to rental income in the future.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/SF

$383 USD /SF

CAP RATE

5.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Covington Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,029 SF

ZONING

CD

APN/PARCEL ID

362205-9064

ASK ABOUT THIS PROPERTY

David GellnerKidder MathewsMore Info
206-747-4338

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David GellnerKidder MathewsMore Info
206-747-4338

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