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 

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