21050 International Boulevard
Seatac, WA 98198 ·
5,579 SF · Retail For Sale
|Price||N/A||Property Use Type||Net Lease Investment with 10+ years left on lease|
|Building Size||5,579 SF||Cap Rate||5.50%|
|Property Sub-type||Free Standing Bldg||Property on Ground Lease?||Yes|
|Listing ID: 17915747||Date Created: 11/14/2012||Last Updated: 01/18/2013|
Newmark Grubb Knight Frank is pleased to exclusively present for your acquisition review an opportunity to acquire the fee simple interest in a free standing AutoZone retail store located in Sea Tac, WA (the Property ). The 5,579 SF building was constructed in October 2011 and features an attractive brick / masonry construction.
A combination of Seattle & Tacoma, Sea Tac is located between the two cities along Interestate 5 in the Puget Sound region of Washington State. Sea Tac encompasses the Seattle-Tacoma International Airport, located a quick three miles north of the AutoZone Property. The Airport, owned by the Port of Seattle, is the largest employer in the region, with nearly 42,000 local jobs generating $6.9 billion in overall business revenue and $209 million in state and local taxes
The Property is located in King County, which consistently ranks among the 100 highest-income counties in the United States.
This property is listed in conjunction with Jane Lanford, Broker of Record for the State of Washington, Executive Vice President / Managing Director, Newmark Grubb Knight Frank, 1420 Fifth Ave, Suite 2200, Seattle, WA 98101.
- 13+ years remain on 15 year absolute NNN ground lease
- Corporately guaranteed lease (S&P Rated: BBB/Stable)
- 10% rental increases every 5 years
- Attractive brick and masonry construction
- Located 3 miles south of Seattle-Tacoma International Airport
- Excellent demographics; average HH income $60,000+ with 184,000 people living in a 5 mile radius of the Property
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