21700 Market Pl NW - Freestanding FOR SALE


Poulsbo, WA 98370 | 
$6,375,000 USD
360-823-5111
21700 Market Pl NW, Poulsbo, WA for Sale
$6,375,000 USD
Freestanding - FOR SALE
1/12
null | 6% Cap Rate

21700 Market Pl NW
Poulsbo, WA 98370


HIGHLIGHTS

  • Shadow-anchored by Home Depot and Walmart Supercenter
  • Built-to-suit location with limited competition, nearest national pet store chain is over 8 miles away

OVERVIEW

MAJ Commercial Real Estate is pleased to present the opportunity to acquire a single-tenant NNN investment located in Poulsbo, WA. The subject property, situated at 21700 Market Pl NW, is 100% leased to Petco, a leading pet specialty retailer operated by Petco Health and Wellness Company, Inc. (NASDAQ: WOOF), one of the largest pet specialty retailers in the country with +1,350 stores across the U.S., Mexico, and Puerto Rico. The property features a ±15,000 SF building situated on a ±77,537 SF (±1.78-acre) site, built in 2008, and is structured as an NNN lease. The property is anchored by Home Depot and Walmart Supercenter within the Poulsbo MarketPlace. Poulsbo, sits in the northern end of Kitsap County, roughly 22 miles west of Seattle and 48 miles north of Tacoma, and has seen strong population and housing-value growth, offering an above-average income trade area for a net lease investor. Petco has recently exercised its first five-year renewal option, extending the lease from May 1, 2027 through April 30, 2032, reaffirming the tenant's long-term commitment to the location.

FOR SALE DETAILS

PRICE

$6,375,000 USD

PRICE/SF

$429 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Petco

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

110

LAND DETAILS

LAND ACRES

1.78 AC

LAND SF

77,537 SF

ZONING

Commercial

APN/PARCEL ID

102601-2-039-2004

ASK ABOUT THIS PROPERTY

Blake FederinkoMAJ Commercial Real EstateMore Info
360-823-5111

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Blake FederinkoMAJ Commercial Real EstateMore Info
360-823-5111

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