303 91st Ave NE - Retail FOR SALE
Lake Stevens, WA 98258 |
303 91st Ave NE
Lake Stevens, WA 98258
HIGHLIGHTS
- The 6.75% as-is cap rate moves to 8% stabilized return-on-cost upon lease-up of the current vacancy
- The Center is anchored by Rite Aid, Ace Hardware, and Dollar Tree, providing credit, stability and draw to the Center
- All 3 anchor tenants have executed recent lease renewals
- 73% of the income stream comes from nationally recognized tenants
- Although not a part of the offering, Grocery Outlet adds the grocery component and daily goods draw to the Center
- The three free-standing pads provide a potential break-up strategy increasing returns to the investor
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Lake Stevens Marketplace
PROPERTY TYPE
Retail
TOTAL BUILDING SIZE
107605
STORIES
1
YEAR BUILT
1993
SPRINKLERS
-
PARKING SPACES
522
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
008040-000-001-06
