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SRS Distribution (Home Depot) 816 S Spruce St 14,400 SF Industrial Building Burlington, WA 98233 $2,816,000 ($195.56/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Corporate Guarantee / Investment Grade Parent Company: SRS Distribution is the fastest growing distributor of building products in the U.S.
- Functional Industrial (IOS) Facility / Passive Investment: This functional ±14,400 SF facility is situated on ±2.23 acres of land
- The Home Depot (NYSE: HD) completed the acquisition of SRS Distribution for $18.25B
- Newly Executed Lease Extension / Annual Rent Increases: SRS Distribution just executed a 5-year lease extension at this location
- Income Tax Free State / Strategic Location: Washington benefits from no state income tax offering significant financial advantages
- Post GMS Inc. acquisition, SRS Distribution will operate a network of 1,200+ locations nationwide with an estimated enterprise value exceeding $23B
EXECUTIVE SUMMARY
Broker of Record
Brian Brockman
License # 21256 (WA)
Matthews Real Estate Investment Services, Inc
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
Brian Brockman
License # 21256 (WA)
Matthews Real Estate Investment Services, Inc
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
PROPERTY FACTS
| Price | $2,816,000 | Lot Size | 2.23 AC |
| Price Per SF | $195.56 | Rentable Building Area | 14,400 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 6.75% | Year Built | 1985 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Clear Ceiling Height | 22’ |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Price | $2,816,000 |
| Price Per SF | $195.56 |
| Sale Type | Investment NNN |
| Cap Rate | 6.75% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 2.23 AC |
| Rentable Building Area | 14,400 SF |
| No. Stories | 1 |
| Year Built | 1985 |
| Tenancy | Single |
| Clear Ceiling Height | 22’ |
| No. Drive In / Grade-Level Doors | 2 |
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PROPERTY TAXES
| Parcel Number | P72182 | Improvements Assessment | $659,700 |
| Land Assessment | $454,400 | Total Assessment | $298,100 |
PROPERTY TAXES
Parcel Number
P72182
Land Assessment
$454,400
Improvements Assessment
$659,700
Total Assessment
$298,100
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SRS Distribution (Home Depot) | 816 S Spruce St
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