For Representation Only
SEATTLE MSA Desirable Pacific Northwest Location Exclusive Listing Agents: Jon Busse 11216 4th Avenue West, | Everett, WA 98204 760 930 7953 [email protected] Lic. #00854608 $5,857,000 | CAP 7% | NOI $410,000
» TENANT: Walgreens
» BBB S&P Bond Rating 5901 Priestly Drive, Suite 100 Carlsbad, CA 92008 » +/- 9 Years Remaining Lease Term www.colliers.com/carlsbad
» Drive Thru Pharmacy Location Washington Licensee Derek Heed [email protected] » Larger Store Size Lic. #24256
» Walgreen’s Single Tenant, Absolute Net Lease Investment Property Description Well located single tenant, absolute NNN Leased Investment in the Pacific Northwest Region.
Location: » Corner intersection at 112th Street SW and 4th Avenue West » Nearby tenants include Home Depot, Walmart, Albertson’s, Office Depot, Auto Zone, McDonald’s, Taco Bell, Denny’s, Outback Steakhouse, Domino’s Pizza, and Jack in the Box » Densely populated area in the suburbs of Seattle
Tenant: » Investment Grade Tenant – BBB S&P Bond Rating » Walgreens | NYSE: (WAG) is the largest drugstore chain in the United States
Lease Summary: » Absolute NNN Lease
» Approximately 9 years of remaining lease term
Sale Summary
Property Use Type Investment Primary Type Retail Building Size 14,490 APN 004429-002-001-03 Parcel Size 1.37 AC Occupancy 100% Price $5,857,000 Price/SF $404.21 Cap Rate 7% Year Built 2003 Net Lease Investment Absolute NNN Options 10-5 Year
©2019 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification. Location Overview: Everett, WA
Everett is the county seat of and the largest city in Snohomish County, Washington. It is located 25 miles north of Seattle at the mouth of the Snohomish River and is one of the main cities in the metropolitan area and Puget Sound region. Everett is the seventh-largest city in Washington state with a total population of 103,019 at the 2010 census.
Everett remains a major employment center for Snohomish County, but has become a bedroom community for Seattle over the years. It is connected to Seattle by I-5 and various public transit services at Everett Station, including the Sounder commuter train, Amtrak and commuter buses. The city’s 2006 labor workforce comprised more than 80,000 employees, predominately in the fields of technology, aerospace and service-based industries.
The top employers in Everett include: Boeing, Naval Station Everett, The State of Washington, Providence Regional Medical Center Everett, Snohomish County, The Everett Clinic, Everett School District, Frontier Communications Northwest, City of Everett, Fluke Corporation, and Aviation Technical Services. Airplane manufacturer Boeing has a significant presence in Everett, including a large manufacturing plant that is the world’s largest building by volume. Toymaker Funko is also headquartered in Everett.
Demographics 1 Mile 3 Mile 5 Mile Population 2018 Total Population 28,136 138,771 294,666
2023 Total Population (projected) 29,586 151,078 322,330
Population Growth 2018-2023 (projected) 5.2% 8.9% 9.4% Households Trend 2018 Total Households 10,887 50,975 105,451
Household Growth 2018-2023 (projected) 2.1% 5.6% 6.2%
Median Household Income $51,899 $65,603 $77,792
Median Income Change 2018-2023 (projected) 10.8% 15.6% 17.0% Exclusive Listing Agents: Jon Busse Washington Licensee 5901 Priestly Drive, Suite 100 760 930 7953 Derek Heed Carlsbad, CA 92008 [email protected] [email protected] www.colliers.com/carlsbad Lic. #00854608 Lic. #24256