Hers Industrial Park
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Hers Industrial Park
5 Industrial Properties Offered at $26,000,000 in Mukilteo, WA
Investment Highlights
- 125,282 SF across 5 buildings plus +/- 70,000 SF paved yard with covered storage area – 6 tax parcels total
- 100%* leased to 36 individual tenants (*Two small units are occupied by the seller in the 4463 Russell Road building that will be vacated at closing)
- Ample parking (+/- 254 parking stalls) with excellent truck access
- 8.20 acres total with flexible zoning (Light Industrial – City of Mukilteo) allowing for a wide variety of uses
- Projected NOI (December 1, 2024 – November 30, 2025): $1,822,189
- Highly functional small-bay spaces with the majority of suites in the 1,200 to 4,000 SF range – high tenant demand and low supply for small bay indust
Executive Summary
The HERS Industrial Park in Mukilteo (WA) is a rare opportunity to acquire a multi-building industrial complex that caters to the smaller industrial tenant. The property is located in the South Everett/Mukilteo Industrial market which totals approximately 17.17M square feet, of which approximately 1.5M square feet is vacant (8.7%) which is primarily comprised of “big box” industrial vacancies over 50,000 square feet. This land-constrained market has remained incredibly strong over the last several years and is becoming institutionally sought after due to strong absorption and growing rental rates. Developments of this type are no longer being built as a result of rising land + construction prices and in high demand due to virtually no availability for spaces under 10,000 square feet.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $26,000,000 | Number of Properties | 5 |
| Price / SF | $234.42 / SF | Individually For Sale | 0 |
| Cap Rate | 7.01% | Total Building Size | 110,914 SF |
| Sale Type | Investment | Total Land Area | 6.04 AC |
| Status | Active |
| Price | $26,000,000 |
| Price / SF | $234.42 / SF |
| Cap Rate | 7.01% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 110,914 SF |
| Total Land Area | 6.04 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Bldg 8
4493 Russell Rd, Mukilteo, WA 98275 |
Industrial | 32,000 SF | 2007 | - |
|
Bldg 6
4433 Russell Rd, Mukilteo, WA 98275 |
Industrial | 17,986 SF | 1976 | - |
|
Bldg 7
4463 Russell Rd, Mukilteo, WA 98275 |
Industrial | 10,798 SF | 1976 | - |
|
Bldg 5
4403 Russell Rd, Mukilteo, WA 98275 |
Industrial | 32,144 SF | 1976 | - |
| 4351 Chennault Beach, Mukilteo, WA 98275 | Industrial | 17,986 SF | 1999 | - |
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Hers Industrial Park
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