Historical Retail Sale Listing - Clearview Plaza

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Clearview Plaza

17416 State Route 9, Snohomish, WA 98296

N/A

28,441 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
28,441 SF
Property Type:
Retail
Property Sub-type:
Retail (Other)
Property Use Type:
Investment
Commission Split:
1.5%
Cap Rate:
7.36%
Tenancy:
Multiple
Year Built:
1994
Lot Size:
92,347 SF
Listing ID
16011446
Last Updated
over 1 year ago

Highlights

  • Assumable Financing at 5.1 Percent Interest Rate
  • Median Income in Five-Mile Radius: $86,205
  • Major Tenants: Starbucks, Shuck's Auto Supply, Subway
  • Below Market Rents with Upside Opportunity
  • Nearby Retailers Include Albertsons and McDonald's
  • Snohomish County is the Fastest Growing County in Washington State

Description

The subject property is the shadow retail to an Albertsons anchored center within the city of Snohomish, Washington. Snohomish is located in southwest Snohomish County, a submarket experiencing very low vacancy relating to limited retail supply in the submarket. Investors seeking to acquire retail properties with a unique combination of strong demographic fundamentals and conservative additions to supply will be drawn to Clearview Plaza's strong cash-on-cash returns and additional rental rate increases per year with rents below market averages.

Located just south of downtown Snohomish on State Route 9, the subject of a major expansion project, Clearview Plaza is a 28,000 square foot retail facility divided into four separate buildings, with parcels available for construction of additional retail/office space. Major tenants include: Starbucks, Subway, and CSK Auto. Leases are well below market averages, leaving considerable rental upside. Clearview Plaza is adjacent to an Albertsons Grocery Store, a McDonald's restaurant, and several other local and regional retailers. The anchor to Clearview Plaza is Albertsons Grocery, which completed a $3 million remodel in late 2008.

Map of 17416 State Route 9, Snohomish, WA 98296 (Snohomish County)

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