19901 1st Ave S - Freestanding FOR SALE


Normandy Park, WA 98148
$26,410,400 USD
206-518-9567
19901 1st Ave S, Normandy Park, WA for Sale
$26,410,400 USD
Freestanding - FOR SALE
1/16
null | 6.65% Cap Rate

19901 1st Ave S
Normandy Park, WA 98148


HIGHLIGHTS

  • Stable retail and service oriented uses
  • Extremely high-income trade area with average household incomes in excess of $170,000 within 1-mile of the property
  • Successful tenants with the majority of income from e-commerce resistant retailers
  • 21 of 22 tenants have annual contracted rental increases
  • 100% grocery-anchored shopping center
  • Captive neighborhood trade area

OVERVIEW

Normandy Park Towne Center offers investors a rare opportunity to acquire a 100% leased, grocery-anchored neighborhood shopping center in the high-income, affluent suburb of Normandy Park, WA, just south of Seattle. The center is anchored by Grocery Outlet on a new 10-year lease, providing a stable and reliable income stream. The three largest tenants, accounting for approximately 48% of total rental income, have recently expanded their footprints and executed long-term lease extensions, demonstrating strong tenant commitment. The offering features high-quality construction, excellent access and visibility, strong NOI growth potential, and a stable, diversified tenant roster, making it a compelling investment in a thriving, supply-constrained market.

FOR SALE DETAILS

PRICE

$26,410,400 USD

PRICE/SF

$973 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Building 4

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

293

LAND DETAILS

LAND ACRES

8.1 AC

LAND SF

352,836 SF

ZONING

NC

APN/PARCEL ID

611540-0142

ASK ABOUT THIS PROPERTY

Billy SleethNewmarkMore Info
206-518-9567

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

Billy SleethNewmarkMore Info
206-518-9567

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