404 State Ave - Retail FOR SALE


Marysville, WA 98270- Downtown Marysville
$3,960,000 USD
480-221-4221
404 State Ave, Marysville, WA for Sale
$3,960,000 USD
Retail - FOR SALE
1/9
null | 6.25% Cap Rate

404 State Ave
Marysville, WA 98270
Downtown Marysville


HIGHLIGHTS

  • Over 8 Years of Firm Term Remaining | Corporate Signed Lease | Well-Known & Established Tenant | Options to Extend
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Signalized, Hard Corner Intersection | Centralized Location | Excellent Visibility & Access
  • Marysville Town Center (172,000 SF) | Dense Retail Corridor | Direct Residential Consumer Base | Nearby Apartment Complexes
  • Subleased Pad | Embedded Residual Value | Low Basis
  • Strong Demographics in 5-Mile Trade Area | Affluent Incomes

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Marysville, Washington (Seattle MSA). The tenant has approximately 8 years remaining with 11 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of every other option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Founded in 1901, Walgreens proudly serves more than 9 million customers and patients each day across its nearly 8,000 stores throughout the U.S. and Puerto Rico.

FOR SALE DETAILS

PRICE

$3,960,000 USD

PRICE/SF

$190 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | 8+yrs Corp Abs NNN

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

DC

APN/PARCEL ID

005287-008-005-00,005287-008-008-00

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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