219-221 State Ave - Freestanding FOR SALE


Marysville, WA 98270
$2,300,000 USD
206-693-3352
219-221 State Ave, Marysville, WA for Sale
$2,300,000 USD
Freestanding - FOR SALE
1/4
null | 5.5% Cap Rate

219-221 State Ave
Marysville, WA 98270


HIGHLIGHTS

  • Occupied by Verizon, Edward Jones, Reboot Recovery and PacWeezy Barbershop
  • Verizon comprises 20% of the GLA and has occupied the premises for over 12 years with a brand new 5-year extension
  • All tenants operate on a triple net lease structure that insulates Landlord from the rising cost of operating expenses
  • Pad site of the Albertsons-anchored Marysville Town Center, a daily-needs retail center with many national tenants
  • Located within the Marysville-Arlington trade area, one of the state’s fastest-growing communities and the second-largest city in Snohomish County
  • High average area income of $123k within a 3-mile radius

OVERVIEW

The Offering provides the opportunity to acquire the Verizon Retail Center, a 6,853 SF, two-story pad of the Albertsons-anchored Marysville Town Center, a daily-needs retail center. The Property is 69% occupied by a mix of national credit-rated tenants and local operators, including Verizon, Edward Jones, Reboot Recovery, and a brand new lease with PacWeezy Barbershop to open in Q4 2024 (all operating on triple net leases). Additional upside provided upon lease-up of the 2,115 SF single vacancy. The Property benefits from its location at the hard corner of Fourth and State Streets, with direct access to I-5 ramps and a daily draw to the greater center, provided by a reportedly high-performing Albertsons, Big Lots, Staples, and brand-new leases with Burlington and Daiso.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$336 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Verizon Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

850

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

DC

APN/PARCEL ID

005287-003-001-01

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

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Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.