9315 State Ave - Retail FOR SALE
Marysville, WA 98270 |
9315 State Ave
Marysville, WA 98270
HIGHLIGHTS
- 84,264 square foot retail center with longstanding anchors and below-market rents averaging $9/sf/yr
- Goodwill, Costless Warehouse and Everett Community College occupy 67.4% of the total GLA and have been tenants in the property for 21, 11, and 19 yrs
- Costless Warehouse currently pays $2.79/ sf Gross, which is significantly below market rent.
- At 26,080 sf and 31% of the GLA, Goodwill recently executed a 7-year lease extension showing their commitment to the site.
- At $90 per square foot, the property is priced substantially below replacement cost.
- Currently occupied by a drive-thru espresso stand paying $1,606 per month, market rent for similar out-pad espresso stands range from $3,000 - $5,000
FOR SALE DETAILS
PRICE
-
CAP RATE
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% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
State Street Center
PROPERTY TYPE
Retail
ADD'L SUBTYPES
Day Care Center, Restaurant, Storefront
TOTAL BUILDING SIZE
84264
STORIES
1
YEAR BUILT
1990
SPRINKLERS
-
PARKING SPACES
238
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
300516-003-039-00
