Listed by Kidder Mathews San Diego, Kidder Mathews Bellevue
$2,736,842
Chase Bank - Everett, WA
Details
APN 28053000408400
Property Type Retail
Sub Type Bank, Shopping Center
Square Footage 2,700
Units 1
Cap Rate 4.75%
NOI $130,000
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank
Lease Type Absolute NNN
Lease Term 14
Lease Expiration 11/29/2039
Remaining Term 13.4
Rent Bumps Yes
Lease Options 4 x 5 year
Year Built 2024
Buildings 1
Stories 1
Acreage 0.430
Zoning CB – Commercial, Business
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 10/16/2024
Ground Lease Yes
Ownership Fee Simple (Land & Building Ownership)
Chase Bank | Outparcel to a Grocery Drug Anchored Center | Signalized Main Entrance | Seattle MSA
Investment highlights
- NNN Ground Lease
- Outparcel at the signalized main entrance to a Fred Meyer & Walgreens
- Grocery / Drug Anchored Shopping Center
- Brand new 2024 construction
- 10% rent increases every 5 years provide a hedge against inflation
- Investment Grade Tenant - Rated A+ Stable by Standard & Poor's, Aa1 Stable by Moody's
- Exceptional Visibility - Located at the highly trafficked, signalized hard corner intersection of 132nd Street SE (28,448 average daily traffic), and a combined shopping center traffic count of 57,426 at the intersection of 132nd and HWY 527
- Densely Populated and Affluent Trade Area - Over 322,000 residents 5 miles with an average household income over $136,000
- Located in a highly trafficked retail corridor surrounded by national tenants such as Lowe's Home Improvement, Sprouts Farmers Market & Fred Meyer
- 1.5 miles east of the Link Light Rail at Mariner Station - The Everett Link
- Extension project will extend the service of the existing light rail from Everett to the University of Washington, downtown Seattle, Sea-Tac Airport (Click Here For More Info)
- 22 miles north of downtown Seattle
- Washington is an income tax free state
Listing Contacts
Listed by Kidder Mathews San Diego, Kidder Mathews Bellevue
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$130,000.00
$10,833.33/mo
Valuation Metrics
0
DSCR
4.75%
Cap Rate
4.75%
ROI
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