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11656 68th Ave S
Seattle, WA 98178
Grocery Outlet · Retail Property For Sale
Investment Highlights
- Long-Term NNN Grocery Income
- Established Regional Retail Trade Area
- Nearby Residential Growth
- Large Seattle Fee-Simple Parcel
- Dense, High-Income Demographics
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a single-tenant Grocery Outlet property located at 11656 68th Avenue South in Seattle, Washington. The Property consists of a 23,494-square-foot grocery building situated on 4.51 fee-simple acres. Grocery Outlet, Inc. is operating under a NNN lease structure with 9 years 9 months of remaining primary term through March 31, 2036, providing investors with durable grocery-anchored income supported by more than 17 years of historical occupancy at the site. The lease generates current annual base rent of $227,422, or $9.68 per square foot, with a scheduled 10% rent increase in April 2028 and two five-year renewal options, each featuring 15% rent increases.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
23,494 SF
Building Class
C
Year Built/Renovated
1965/1982
Price
$3,498,800
Price Per SF
$148.92
Cap Rate
6.50%
NOI
$227,422
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
4.47 AC
Opportunity Zone
Yes
Zoning
CBSO - Community Business Zone Special District Overlay
Parking
142 Spaces (6.04 Spaces per 1,000 SF Leased)
Frontage
192’ on Renton Ave S
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,000 | |
| Land Assessment | $5,059,500 | Total Assessment | $5,060,500 |
Property Taxes
Parcel Numbers
Land Assessment
$5,059,500
Improvements Assessment
$1,000
Total Assessment
$5,060,500
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