Chase NWC 132nd Street SE & 16th Avenue SE
2,700 SF Retail Building Everett, WA 98208 $2,736,842 ($1,013.65/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand new construction 2023/2024
- 1.5 miles east of the Link Light Rail at Mariner Station
- Outparcel at the signalized main entrance to a Fred Meyer & Walgreens Grocery / Drug Anchored Shopping Center
EXECUTIVE SUMMARY
This property, located at the northwest corner of 132nd Street SE and 16th Avenue SE in Everett, Washington, is a ~3,000 square-foot building on approximately 0.43 acres of land. Built in 2023, it is leased to JPMorgan Chase Bank, N.A. under a 15-year absolute NNN ground lease with 10% rent increases every five years. The sale price is $2,888,888, with a net operating income of $130,000 and a 4.5% cap rate.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,700 SF
Building Class
B
Year Built
2024
Price
$2,736,842
Price Per SF
$1,013.65
Cap Rate
4.75%
NOI
$130,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.43 AC
Zoning
CB - CB – Commercial, Business
AMENITIES
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Finance and Insurance
- -
- $43.32
- Triple Net
- Jun 2039
Chase Bank is proud to serve millions of people with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with trillions of dollars in assets and operations worldwide.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Finance and Insurance | - | $43.32 | Triple Net | Jun 2039 |
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 280530-004-083-00 | Improvements Assessment | $761,600 |
| Land Assessment | $1,224,000 | Total Assessment | $1,985,600 |
