Freestanding Former Rite Aid
High Quality Freestanding Building on 1.57 Acres
Marketing description
Linc Properties is pleased to offer the exclusive opportunity to purchase or lease a prominent, high-quality and very versatile freestanding retail or specialty property located in the heart of thriving South Eastside King County in Renton (Fairwood), Washington State. This very well built highly flexible masonry block building with double drive-through was constructed as a build-to-suit for Rite Aid in 2006 and has been a successful high volume location until recently vacated due to the Rite Aid Bankruptcy proceedings. This large independent lot has excellent ingress and egress, great circulation and abundant parking all positioned with direct access to the high traffic intersection of 140th and Petrovisky Rd. with over 40.000 vehicles per day. The property has prominent visibility with pylon, monument and façade signage for high identity and exposure. Situated just minutes from Interstate 405 to Seattle or Bellevue, this location has over 214,000 highly educated residents with an average household income of $143,000 within a 5 mile radius.
As a rare King County South Eastside “Big Box” opportunity, this core asset, with excellent real estate fundamentals has unlimited potential for the savvy tenant, developer or investor.
Investment highlights
PRIME LOCATION
The property enjoys a premier location within Renton (Fairwood), WA., a well-established suburban community in the heart of the Seattle / Bellevue market. With wide frontage along a high-visibility arterial, the site is positioned to capture both local neighborhood traffic and the high volume of commuters traveling to Seattle and Bellevue from the dense neighborhoods of Renton, Kent, and all Southeast King County cities. This central high traffic location supported by core complimentary retail, grocery, and service uses nearby has a proven consistent consumer draw.
HIGH QUALITY / FLEXIBLE BUILDING
This prominent masonry block building was a premium build-to suit for Rite Aid in 2006 and offers a spacious, open-concept floor plan with 18-20 ft. ceiling height and quality infrastructure ready for seamless adaptation into single-tenant or multi-tenant configurations, making it attractive for educational facilities, general retailers, medical related uses, fitness operators, or community service uses, to name a few.
GREAT SITE / ACCESS / PARKING
The site features well-designed convenient surface parking with multiple points of ingress and egress and double drive-through all on a separate lot supporting high volumes with ease of access and circulation.
THRIVING TRADE AREA
Renton (Fairwood) serves as a vibrant trade area for South Eastside King County with over 214,000 affluent residents within a 5 mile radius. The immediate market has limited competing providers creating excellent opportunities for successful "in-fill" retail and service uses. The property benefits from central proximity to a substantial consumer base seeking daily goods and services and the opportunity to satisfy the demand from steady patterns of a high volume of commuters.
STRONG DEMOGRAPHICS
Renton (Fairwood) is home to stable, well-educated, high-income families with an average household income over $147,000 / year within a 3 mile radius. Demonstrating strong purchasing power, the area boasts a balanced mix of young families, professionals, and older established residents. Household incomes significantly exceed state and national averages, reinforcing spending capacity.
VISIBILITY & ACCESSIBILITY
The property benefits from excellent street front orientation and large pylon, monument and building facade signage for high identity tenant branding and awareness.
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