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Evergreen Eye Center Medical Building 700 M St NE 8,396 SF Office Building Auburn, WA 98002 $3,990,000 ($475.23/SF) 5.61% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully Leased
- Stabilized Investment
- Remodeled 2011
EXECUTIVE SUMMARY
Fully leased to Evergreen Eye Center, a leader in medical and
surgical eye care in Puget Sound.
EVERGREEN EYE CENTER | 700 M ST NE, AUBURN, WA 98002
LONG TERM LEASE IN PLACE
January 1, 2020 through December 31, 2029. Five, (5) year options
to renew.
NNN LEASE STRUCTURE
Minimal Landlord responsibility. Tenant is responsible and pays
directly all operating expenses including real estate taxes, utilities,
insurance, and HVAC repairs and replacement.
STABILIZED INVESTMENT
Current rental rate of $26.02 PSF with annual 2.5% increases
throughout the 10-year term.
BUILDING REMODELED IN 2011
Evergreen Eye Center took the building down to shell and invested
significant capital in a complete 2011 remodel.
BUILDING MAINTENANCE
The property is professionally managed and well maintained.
The lease in place is a true NNN lease with full operating expense
passthrough.
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Health Care and Social Assistance
- -
- -
- -
At Evergreen Eye Center, they’ve earned a reputation as leaders in top-quality eyecare who are dedicated to their mission. And their mission is extremely simple: to provide patient-centered care. This has been their priority for more than 30 years. For their experienced, highly credentialed eye doctors, providing patient-first care means delivering the very best possible patient experience, from comfort, ease, and efficiency to optimal treatment precision and outcomes. It means individualized attention and treatment, genuine compassion, and total commitment to your best interests. It also means offering every modern treatment option and the most advanced technologies available in order to meet your vision and eyecare needs, whatever they are.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Health Care and Social Assistance | - | - | - |
PROPERTY TAXES
| Parcel Number | 182105-9328 | Improvements Assessment | $3,033,500 |
| Land Assessment | $471,900 | Total Assessment | $3,505,400 |
PROPERTY TAXES
Presented by
Evergreen Eye Center Medical Building | 700 M St NE
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