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Big 5 Sporting Goods 910 S Burlington Blvd 14,955 SF 100% Leased Retail Building Burlington, WA 98233 $4,150,000 ($277.50/SF) 6.56% Cap Rate
Executive Summary
This two-tenant center is occupied by Sherwin-Williams and Big 5 Sporting Goods on long-term leases. Sherwin-Williams recently signed a new, 10-year lease and Big 5 exercised a 5-year extension option to their original primary lease term that started in 1994. The Sherwin-Williams Company (NYSE: "SHW"), ranked #175 on the Fortune 500 list, has signed a new 10-year net lease to a strong and growing corporate tenant. The lease includes scheduled rental increases in the option periods. Rated "BBB" by Standard & Poor's, Sherwin-Williams has demonstrated robust financial performance, growing its EPS by 11% per year over the last three years.
Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.
Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.
Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.
Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.
Property Facts Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,955 SF
Building Class
B
Year Built
1995
Price
$4,150,000
Price Per SF
$277.50
Cap Rate
6.56%
NOI
$272,064
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.92 AC
Parking
44 Spaces (2.94 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
-
Jan 0000
Sherwin-Williams began in 1866 when Henry Sherwin and Edward Williams opened a paint store in Cleveland, Ohio. The company expanded nationally through the late 19th century by establishing manufacturing facilities. Their business model includes three segments: Paint Stores Group for contractors, Consumer Brands Group for retail sales, and Performance Coatings Group serving industrial markets. The company operates in both professional and DIY markets through company-owned stores and third-party distributors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | P23561 | Improvements Assessment | $1,877,800 |
| Land Assessment | $1,522,300 | Total Assessment | $183,200 |
Property Taxes
Parcel Number
P23561
Land Assessment
$1,522,300
Improvements Assessment
$1,877,800
Total Assessment
$183,200
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Big 5 Sporting Goods | 910 S Burlington Blvd
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