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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

Chase Bank, officially JPMorgan Chase Bank, N.A., is the consumer and commercial banking subsidiary of JPMorgan Chase & Co., the largest bank in the United States by assets. Its origins trace back to The Manhattan Company, founded in 1799, and Chase National Bank, established in 1877. The two merged in 1955 to form Chase Manhattan Bank, which later combined with J.P. Morgan & Co. in 2000 to create JPMorgan Chase & Co. Today, Chase provides a wide range of financial services, including retail banking, credit cards, mortgages, auto loans, and business banking. Headquartered at 270 Park Avenue in New York City, JPMorgan Chase operates globally and trades publicly on the NYSE under the ticker symbol JPM. The company employs over 317,000 people and manages assets exceeding $4 trillion. [en.wikipedia.org], [en.wikipedia.org], [bing.com]

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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