10213-10215 24th St E
Edgewood, WA 98372
Beehive · Retail Property For Sale

DESCRIPTION: Business Triplex located at the City Center intersection of Edgewood, WA, 24th Street and Meridian. INVESTMENT: APOD provides a 10% Capital Return Rate. The buyer can occupy “Suite – A”, or I am willing to sign a Lease with purchaser and remain. The A.P.O.D. includes a very reasonable Lease of 75 cents per foot on Suite A, which could easily Lease for more and increase the Cap Rate significantly. Seller is willing to Lease Suite-A with a 5 year term if purchasing is not desired. First/Last and Security for Lease required. ZONING: City Center (3 Stories tall allowed) Currently Office Space/Retail Store frontage. UPGRADES: The building is now connected to the public sewer system at a cost that exceeded $35,000. Suite “B” and “C” were completely renovated 4 years ago at a cost exceeding $100,000; includes rough and finish electrical, HVAC systems, all plumbing fixtures, concrete parking area, flooring, ceiling, walls, trim, cabinets, etc. All three Suites have newly upgraded electrical panels. The roof has been recently sealed. The building has been freshly painted. A Reader Board, 4 ft x 8 ft, has been recently installed and is in full view of the intersection. The front parking lot has a recent complete asphalt change out (not an overlay). TENANTS: An unusual cohesiveness with the tenants; they work closely with each other and look out for one another. Suite-A business has been in place 13 years, Suite B & C for 4 years each with 5 year Lease Renewals just signed. Prompt payments by direct deposit. SURROUNDING DEVELOPMENTS: Jupiter Tennis Courts will be open for business in a few weeks, Les Schwab Tires came in 4 years ago, Timberland Bank just completed a 1-million remodel. Meridian has 3 major luxury apartment complexes that will total 4,000 new residents. The City Hall and offices is behind the building. The Fire Department is across the street. City projections show more than 300 additional homes to be added next year. Starbucks, Taco Time, Farmer’s Insurance and Taco Bell are brand new businesses on Meridian. Many large parcels will bring additional business and developments in the near future as Edgewood has steered to a permit friendly City and has encouraged Meridian Development. CONTACT: Please call me with further questions: Steve Cope cell: 253-514-3449. View details of entire building and property on: www. loopnet.com