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303 91st Ave NE
Lake Stevens, WA 98258
Lake Stevens Marketplace · Retail Property For Sale
Investment Highlights
- The 6.75% as-is cap rate moves to 8% stabilized return-on-cost upon lease-up of the current vacancy
- All 3 anchor tenants have executed recent lease renewals
- Although not a part of the offering, Grocery Outlet adds the grocery component and daily goods draw to the Center
- The Center is anchored by Rite Aid, Ace Hardware, and Dollar Tree, providing credit, stability and draw to the Center
- 73% of the income stream comes from nationally recognized tenants
- The three free-standing pads provide a potential break-up strategy increasing returns to the investor
Property Facts
Property Type
Retail
Building Size
107,605 SF
Building Class
B
Year Built
1993
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.30
Lot Size
8.33 AC
Zoning
CD - Commercial District (CD)
Parking
522 Spaces (5.47 Spaces per 1,000 SF Leased)
Frontage
1,081’ on 91st Ave
Amenities
- Restaurant
- Signage
- Air Conditioning
Property Taxes
| Parcel Number | 008040-000-001-06 | Improvements Assessment | $2,409,100 |
| Land Assessment | $595,900 | Total Assessment | $3,005,000 |
Property Taxes
Parcel Number
008040-000-001-06
Land Assessment
$595,900
Improvements Assessment
$2,409,100
Total Assessment
$3,005,000
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