Verizon and Aaron's Retail Center | 1212 E Wishkah St
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Verizon and Aaron's Retail Center 1212 E Wishkah St
11,036 SF 100% Leased Retail Building Aberdeen, WA 98520 $2,795,000 ($253/SF) 7.08% Cap Rate
Investment Highlights
- 100% OCCUPIED - Occupied by the same tenants since the building was constructed in 2013.
- CONTRACTED RENT GROWTH - Both tenants have scheduled rental increases.
- TAX FREE STATE - Washington has no state income tax for prospective investors.
- NNN LEASE STRUCTURE - Minimal landlord responsibility. Tenants responsible for real estate taxes, insurance and CAMS.
Executive Summary
The subject property is a two-tenant 11,036 square foot retail strip center located on the corner of Fleet Street and Highway 12 in Aberdeen,
Washington. Aberdeen is approximately 75 miles west of Tacoma, Washington. The city is the most populous in Grays Harbor County and the region's economic center, bordering the cities of Hoquiam and Cosmopolis. The investment is 100% leased to Aaron's, Inc. and an authorized Verizon Wireless dealer that operates over 750 locations across the US.
For more info go to: https://swansonking.com/listings/verizon-aarons-aberdeen/
Washington. Aberdeen is approximately 75 miles west of Tacoma, Washington. The city is the most populous in Grays Harbor County and the region's economic center, bordering the cities of Hoquiam and Cosmopolis. The investment is 100% leased to Aaron's, Inc. and an authorized Verizon Wireless dealer that operates over 750 locations across the US.
For more info go to: https://swansonking.com/listings/verizon-aarons-aberdeen/
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$197,866
|
$17.93
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $197,866 |
| Annual Per SF | $17.93 |
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Building Size
11,036 SF
Building Class
B
Year Built
2013
Price
$2,795,000
Price Per SF
$253
Cap Rate
7.08%
NOI
$197,886
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.34
Lot Size
0.75 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
35 Spaces (3.17 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 029800600100 | Improvements Assessment | $478,136 |
| Land Assessment | $339,768 | Total Assessment | $817,904 |
PROPERTY TAXES
Parcel Number
029800600100
Land Assessment
$339,768
Improvements Assessment
$478,136
Total Assessment
$817,904
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Verizon and Aaron's Retail Center | 1212 E Wishkah St
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