Listed by Northmarq - Seattle
$5,995,000
19628 Building
Details
APN 032605-9117
Property Type Industrial
Sub Type Flex, Manufacturing
Square Footage 19,340
Net Rentable (SqFt) 19,340
Units 4
Occupancy 72.5%
Tenancy Multi
Price per SqFt $310
Broker Co-Op Yes
Year Built 1986
Buildings 1
Acreage 0.860
Zoning I-Industrial
Parking Spaces 24 spaces
Parking Per SqFt 1.24
Dock High Doors 1
INVEST, OCCUPY, OR BOTH: THE VERSATILE INDUSTRIAL PLAY
Marketing description
Northmarq is pleased to present the opportunity to acquire a 19,340 SF multi-tenant industrial business park located in the high demand Woodinville market. Currently 72.5% occupied across four well-proportioned suites, the property offers a rare “light-lift” value-add play or a premier owner-user headquarters with built-in debt coverage.
The recent vacancy of Suite B (5,312 SF) provides an immediate opportunity for a buyer to either move their business into a high visibility location or lease the space at market rates in a submarket characterized by sub-2% vacancy. With three stable tenants already in place on NNN leases featuring 3%+ annual increases, the asset provides immediate cash flow while offering significant upside.
Investment highlights
- IMMEDIATE OWNER-USER OPPORTUNITY
- PASSIVE INCOME STREAM
- HIGH-DEMAND “SMALL-BAY” VERSATILITY
- CONTRACTUAL RENT GROWTH
- SIGNIFICANT MARK-TO-MARKET UPSIDE
- STRATEGIC REGIONAL CONNECTIVITY
Listing Contacts
Listed by Northmarq - Seattle
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