This Retail Property is Off-Market.

21050 International Boulevard
Seatac, WA 98198 ·

5,579 SF · Retail For Sale

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AutoZone

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 Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Property on Ground Lease? Yes
Listing ID: 17915747 Date Created: 11/14/2012 Last Updated: 01/18/2013

Description

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.

Highlights

  • 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

Research

21050 International Boulevard, Seatac, WA 98198 (King County)

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