5416 Shilshole
Fully stabilized Ballard investment with 18+% IRR on 5-yr hold
Marketing description
Neil Walter Company is pleased to present for sale 5416 Shilshole Ave NW in Seattle, WA. This 6,604 sf manufacturing building is fully stabilized with 2 tenants, each of which is well invested into the building with a desire for long term occupancy. The buisness types are absolutely AI-resilient, and offer an investor stable lease income until 2029 when both leases turn over. Investors will benefit from upside in rents even if the market stays flat. With standard financing assumptions this deal easily crosses the 18% IRR threshold over a 5-year holding period, setting a buyer up well to trade back out of the asset during the upswing in the nexty business cycle.
The building itself offers a location that is a stones throw from the Ballard Farmers Market and primary walking retail area, creating a stable foundation of demand for space in one of Seattle's most desirable neighborhoods.
Investment highlights
- ~6% cap rate going in, 7.32% pro-forma cap rate at todays rates.
- 18.78% leveraged IRR on 5-yr holding period
- Excellent basis for acquisition
- Strong local tenants with AI-resilient business models
- Unbeatable location in Ballard's unique marine-centric industrial/retail area
- Small IOS / outdoor storage yard for Tenant's use, a rare attribute for this area
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