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1048-1052 State Ave 27,546 SF 100% Leased Retail Building Marysville, WA 98270 $3,750,000 ($136.14/SF) 9.63% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully leased
- Prime Location
- Property in excellent condition
EXECUTIVE SUMMARY
This family owned building is on the market, located in central Marysville, and is fully occupied with long term tenants. Current tenants include a gym, pawn and jewelry shop, laundromat, and coffee stand. The building has a sprinkler system, paved parking lot with over 105 parking spaces, and is in a prime location! Just 5 minutes to I-5 for commuting and for ease of access for tenant customers. This is your opportunity to own prime real estate with Downtown Commercial Zoning in fast growing Marysville with a CAP rate of 9.6% and annual rent increases. Sellers will carry a contract: 25% down, 5% interest, 30 year am, 5 year cash out. Ideal for an investor with an eye towards the future
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
27,546 SF
Building Class
B
Year Built
1963
Price
$3,750,000
Price Per SF
$136.14
Cap Rate
9.63%
NOI
$361,125
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
2.13 AC
Zoning
Downtown Commercial - Downtown Commercial
Parking
105 Spaces (3.81 Spaces per 1,000 SF Leased)
Frontage
202’ on State Ave
AMENITIES
- Bus Line
- Signage
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 300528-002-167-00 | Improvements Assessment | $1,721,100 |
| Land Assessment | $1,837,800 | Total Assessment | $3,558,900 |
PROPERTY TAXES
Parcel Number
300528-002-167-00
Land Assessment
$1,837,800
Improvements Assessment
$1,721,100
Total Assessment
$3,558,900
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1048-1052 State Ave
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