1825 Broadway - Drug Store FOR SALE
Everett, WA 98201 |
1825 Broadway
Everett, WA 98201
HIGHLIGHTS
- RECENT LEASE EXTENSION The tenant has shown commitment to this strategic location by recently exercising their ?rst 5-year option.
- RARE RENTAL INCREASES IN OPTIONS The lease features very rare rental increases in each of the 5-year option periods.
- SIGNIFICANT RENTAL UP SIDE The below market rent provides for much lower renewal risk in subsequent option periods.
- SURROUNDING NEW DEVELOPMENTS Multiple ongoing developments including a 1.5M square foot mixed-use project and Kaiser Permanente’s 165,000 square foot
- STRONG CORPORATE GUARANTEE The lease is guaranteed by Bartell Drugs, a wholly owned subsidiary of publicly traded Rite Aid Corporation (NYSE:RAD)
- PROXIMIT Y TO HEALTHCARE PROVIDERS The property is the closest freestanding pharmacy to Providence Regional Medical Center and Seattle Children’s Nort
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Bartell Drugs
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Convenience Store, Supermarket, Department Store
TOTAL BUILDING SIZE
15427
STORIES
1
YEAR BUILT
2000
SPRINKLERS
-
PARKING SPACES
46
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
004379-363-010-00
