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Chase NWC 132nd Street SE & 16th Avenue SE 2,700 SF Retail Building Everett, WA 98208 $2,736,842 ($1,013.65/SF) 4.75% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Brand new construction 2023/2024
  • 1.5 miles east of the Link Light Rail at Mariner Station
  • Outparcel at the signalized main entrance to a Fred Meyer & Walgreens Grocery / Drug Anchored Shopping Center

EXECUTIVE SUMMARY

This property, located at the northwest corner of 132nd Street SE and 16th Avenue SE in Everett, Washington, is a ~3,000 square-foot building on approximately 0.43 acres of land. Built in 2023, it is leased to JPMorgan Chase Bank, N.A. under a 15-year absolute NNN ground lease with 10% rent increases every five years. The sale price is $2,888,888, with a net operating income of $130,000 and a 4.5% cap rate.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
2,700 SF
Building Class
B
Year Built
2024
Price
$2,736,842
Price Per SF
$1,013.65
Cap Rate
4.75%
NOI
$130,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.43 AC
Zoning
CB - CB – Commercial, Business

AMENITIES

  • Signage
  • Drive Thru

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Finance and Insurance
  • -
  • $43.32
  • Triple Net
  • Jun 2039

JPMorgan Chase is a leading global financial services firm with a diversified portfolio of banking, investment, and asset management services. The company traces its roots back to 1799 and was officially formed through the merger of J.P. Morgan & Co. and Chase Manhattan Bank in 2000. Headquartered in New York, JPMorgan Chase operates across multiple business segments, including consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The firm serves millions of consumers, small businesses, corporations, and governments worldwide. It is publicly traded on the New York Stock Exchange under the ticker symbol JPM. Over the years, JPMorgan Chase has played a significant role in major financial transactions and market developments, maintaining a strong presence in global capital markets.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Finance and Insurance - $43.32 Triple Net Jun 2039
Bike Score®
Very Bikeable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

Planet Fitness
9Round
Sprouts Farmers Market
Heritage Bank
Anytime Fitness
Orangetheory Fitness
WaFd Bank
Starbucks

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
280530-004-083-00
Land Assessment
$1,224,000
Improvements Assessment
$761,600
Total Assessment
$1,985,600
  • Listing ID: 33446338

  • Date on Market: 10/7/2024

  • Last Updated:

  • Address: NWC 132nd Street SE & 16th Avenue SE, Everett, WA 98208

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