18935 59th Avenue NE
Arlington, WA 98223
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.
Interior Details
- InteriorCeramic Tile, Concrete, Wall to Wall Carpet
Property Details
- Exterior MaterialsMetal/Vinyl, Stucco, Wood Products
Construction Details
- Style61 - Comm Bldg Ovr 10K
- Property TypePurchase
Condition
- Year Built1989
Material information
- FoundationSlab
Utilities / Energy Details
- Sewer InformationSewer Connected
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionArlington
Location
- CountySnohomish
Financial Details
- Original List Price$3,528,000
- Days on Market (Cumulative)121
Other
- MLS #2263333
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2024-11-01 23:58:11. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Last Updated: . Source: NWMLS
Listing Courtesy
Listing Agent: Lyle Sorenson (#NWM92771)
Listing Office: Windermere Real Estate Whatcom (#NWM5756)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
