Listed by Newmark - Seattle
$7,384,267
Normandy Park Towne Center - Building #4
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 27,142
Net Rentable (SqFt) 27,142
Cap Rate 6.75%
NOI $498,438
Occupancy 100%
Tenancy Multi
Rent Bumps Yes
Price per SqFt $272
Investment Type Stabilized
Retail | 6.75% CAP | 27,142 SqFt
Marketing description
Normandy Park Towne Center offers investors a rare opportunity to acquire a 100% leased, neighborhood shopping center in the high-income, affluent suburb of Normandy Park, WA, just south of Seattle. The offering features high-quality construction, excellent access and visibility, strong NOI growth potential, and a stable, diversified tenant roster, making it a compelling investment in a thriving, supply-constrained market.
Investment highlights
100% Leased
Contracted Rental Increases
Captive neighborhood trade area
Attractive, high-quality construction
Extremely high-income trade area with average household incomes in excess of $170,000 within 1-mile of the property
Barriers to entry with minimal competition
Listing Contacts
Listed by Newmark - Seattle
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$498,438.00
$41,536.50/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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