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
Bank
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

Heritage Bank
9round Fitness
Planet Fitness
Sprouts Farmers Market
Anytime Fitness
Fred Meyer
Starbucks
Orangetheory Fitness
WaFd Bank

PROPERTY TAXES

  • Listing ID: 33446338

  • Date on Market: 10/7/2024

  • Last Updated:

  • Address: NWC 132nd Street SE & 16th Avenue SE, Everett, WA 98208