Provided by NWMLS, Listed by Windermere Real Estate Whatcom
Active
18935 59th Avenue NE
Arlington WA, 98223
$3,528,000
Active
Commercial
Built in 1989
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.
2263333
MLSⓇ ID
July 11, 2024
Listed
September 5, 2024
Updated
Map
18935 59th Avenue NE
Arlington WA, 98223
Interior Features
Interior Features
Ceramic Tile, Concrete, Wall to Wall Carpet
Floor Description
Ceramic Tile, Concrete, Carpet
Fireplace
No
Cooling
Yes
Cooling Description
Central A/C
Heating
Yes
Heating Description
Forced Air, Other See Remarks
Exterior/Building Features
Exterior Features
Metal/Vinyl, Stucco, Wood Products
Roof
Metal
Sewer
Sewer Connected
Other Property Details
Area Name
770 - Northwest Snohomish
Garage
No
Parking Total
0
View
No
County
Snohomish
Water Source
Public
Pool
No
The IDX display presents information sourced from the Northwest Multiple Listing Service as of 9/8/2024. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 9/8/2024 at 2:00 AM UTC . 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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Data last updated on 9/8/2024 at 2:00 AM UTC