4200 228th Ave NE | Redmond, WA 98053
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- LoopNet Team
4200 228th Ave NE
Redmond, WA 98053
Goddard School · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- The building is situated on a 9.41 acre lot that fronts both Redmond Fall City Road and 228th Ave NE.
- 3% annual rental increases throughout the initial lease term and options.
- The lease provides five (5), seven (7) year renewal terms, with a 3% annual rent increases throughout all of the options.
- The franchisee is currently building a second location in Lynnwood. The Redmond location has been a success since it first opened in 2011.
- The school has been sold twice to new operators. Each of the previous owners remain on the lease as personal guarantors.
- The school is an affluent neighborhood in Redmond with a median household income of $227,907 within a one-mile radius.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,352 SF
Building Class
B
Year Built
1991
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
9.41 AC
Zoning
RA5
Parking
27 Spaces (2.6 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 152506-9017 | Improvements Assessment | $3,232,500 |
| Land Assessment | $660,000 | Total Assessment | $3,892,500 |
PROPERTY TAXES
Parcel Number
152506-9017
Land Assessment
$660,000
Improvements Assessment
$3,232,500
Total Assessment
$3,892,500
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