Hers Industrial Park Industrial FOR SALE


Mukilteo, WA
$26,000,000 USD
425-453-3127
, Mukilteo, WA for Sale
$26,000,000 USD
Industrial - FOR SALE
1/5
null | 7.01% Cap Rate

Hers Industrial Park
Mukilteo, WA


HIGHLIGHTS

  • 125,282 SF across 5 buildings plus +/- 70,000 SF paved yard with covered storage area – 6 tax parcels total
  • 8.20 acres total with flexible zoning (Light Industrial – City of Mukilteo) allowing for a wide variety of uses
  • 100%* leased to 36 individual tenants (*Two small units are occupied by the seller in the 4463 Russell Road building that will be vacated at closing)
  • Projected NOI (December 1, 2024 – November 30, 2025): $1,822,189
  • Ample parking (+/- 254 parking stalls) with excellent truck access
  • Highly functional small-bay spaces with the majority of suites in the 1,200 to 4,000 SF range – high tenant demand and low supply for small bay indust

OVERVIEW

The HERS Industrial Park in Mukilteo (WA) is a rare opportunity to acquire a multi-building industrial complex that caters to the smaller industrial tenant. The property is located in the South Everett/Mukilteo Industrial market which totals approximately 17.17M square feet, of which approximately 1.5M square feet is vacant (8.7%) which is primarily comprised of “big box” industrial vacancies over 50,000 square feet. This land-constrained market has remained incredibly strong over the last several years and is becoming institutionally sought after due to strong absorption and growing rental rates. Developments of this type are no longer being built as a result of rising land + construction prices and in high demand due to virtually no availability for spaces under 10,000 square feet.

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Talor OkadaColliersMore Info
425-453-3127

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Talor OkadaColliersMore Info
425-453-3127

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