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CVS Zero Cash Flow 33520 21st Ave SW 12,900 SF Retail Building Federal Way, WA 98023 $8,829,251 ($684.44/SF)
INVESTMENT HIGHLIGHTS
- 19+ years remaining on absolute net lease
- Corporate guaranty from CVS Health Corporation (see below)
- Heavily trafficked intersection – 47,000+ VPD
- Zero cash flow lease structure (see Page 5)
- 2018 build-to-suit construction at signalized hard corner
- 2024 revenue totaled $372.8 billion, a 4.2% increase over the previous year
EXECUTIVE SUMMARY
A CVS Zero Cash Flow asset with 19+ years remaining in the base term of an absolute net lease. Subject property is located in Federal Way – an affluent Seattle suburb boasting average household incomes of $118,000 within a 1-mile radius.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
12,900 SF
Building Class
B
Year Built
2018
Price
$8,829,251
Price Per SF
$684.44
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.19 AC
Zoning
BN
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 132103-9098 | Improvements Assessment | $5,516,700 |
| Land Assessment | $1,458,400 | Total Assessment | $6,975,100 |
PROPERTY TAXES
Parcel Number
132103-9098
Land Assessment
$1,458,400
Improvements Assessment
$5,516,700
Total Assessment
$6,975,100
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CVS Zero Cash Flow | 33520 21st Ave SW
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