$ 3,528,000
18935 59th AVE NE Arlington, WA 98223
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Listed by Windermere Real Estate Whatcom
$ 3,528,000
Est. payment /mo
Active
18935 59th AVE NE Arlington, WA 98223
UPDATED:
11/14/2024 04:11 AM
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Arlington
MLS Listing ID 2263333
Style 61 - Comm Bldg Ovr 10K
Year Built 1989
Property Description
Investor Alert! Great building at Arlington Airport, in rapidly growing, established industrial area just minutes from the new Amazon warehouse and much more. Building floor plate is 21,500 s.f. plus built out 2nd floor offices, bull pen, conference room, lunch room and rest rooms. Long term tenant w renewed lease and in process, negotiated land lease extension. Based on a year one rent of $252,000 and a purchase price of $3,528,000, the initial cap rate is 7.14%. Rent escalates 3% annually with the cap rate at 8% by year 4 of the 12-year lease. With the Seller funding improvements at closing of $583,880. This provides the owner with a forty (40) year land lease and a fully renovated investment property at no additional cost.
Location
State WA
County Snohomish
Area 770 - Northwest Snohomish
Interior
Interior Features Ceramic Tile, Concrete, Wall to Wall Carpet
Flooring Ceramic Tile, Concrete, Carpet
Fireplace false
Exterior
Exterior Feature Metal/Vinyl, Stucco, Wood Products
Roof Type Metal
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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