Rite Aid | 10407 SE 256th St
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Rite Aid 10407 SE 256th St
11,180 SF Retail Building Kent, WA 98030 $4,800,000 ($429/SF) 6% Cap Rate
Investment Highlights
- Seattle MSA Free Standing STNL
- Rent Increases in Options
- Average HHI is Approx. $100,000 in One Mile and $114,000 in Five Miles
- Located at Signalized Hard Corner Parcel with Great Visibility and Tall Pylon Signage
- Combined Traffic Count Exceed 63,000 VPD at Signalized Intersection
- Only Freestanding Chain Drug Store Within 2 Miles
Executive Summary
Located within Kent Hill Shopping Center, this Rite Aid is strategically located at a hard signalized, vibrant and heavily trafficked corner intersection. The property is located upslope with a digital pylon sign offering with unparalleled visibility from all directions. Constructed in 2007, the roof was replaced and has a transferrable warranty in place.
Situated only six miles from Sea-Tac International Airport, this Rite Aid is the only freestanding drugstore among the top three drugstore chains within two miles. Nearby tenants include Home Depot, Target, Ross, Kaiser Permanente, Bank of America, Staples and T.J. Maxx. The area is densely populated with well over 200,000 people within five miles.
Situated only six miles from Sea-Tac International Airport, this Rite Aid is the only freestanding drugstore among the top three drugstore chains within two miles. Nearby tenants include Home Depot, Target, Ross, Kaiser Permanente, Bank of America, Staples and T.J. Maxx. The area is densely populated with well over 200,000 people within five miles.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,180 SF
Building Class
B
Year Built
2006
Price
$4,800,000
Price Per SF
$429
Cap Rate
6%
NOI
$288,000
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Land Acres
0.94 AC
Zoning
CC, Kent
Parking
43 Spaces (3.85 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (83)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 292205-9154 | Improvements Assessment | $2,844,200 |
| Land Assessment | $1,456,000 | Total Assessment | $4,300,200 |
PROPERTY TAXES
Parcel Number
292205-9154
Land Assessment
$1,456,000
Improvements Assessment
$2,844,200
Total Assessment
$4,300,200
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David Ching -
Marcus & Millichap
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Rite Aid | 10407 SE 256th St
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