415 RAINIER AVENUE N 3-Tenant Retail Property for Sale | Renton, Washington

415 RAINIER AVENUE N 3-Tenant Retail Property For Sale | Renton, Washington

Listing Broker: Rich Cannon Direct: 206.436.2345 Mobile: 206.353.9575 [email protected] 415 Rainier Avenue N Property Aerial | 1

Lake Washintgon Southport (.9 miles) (2.4 miles)

The Landing (2.2 miles)

Renton Airport ( .1 miles)

Subject Property

Property Aerial Perspective 415 Rainier Avenue N Executive Summary | 2

SZD Executive Summary Offering Summary Address: 415 Rainier Avenue N Cannon Commercial is pleased to present an exciting opportunity to purchase a retail building located in Renton WA. This 12,800 sq. ft. building is located on a 30,600 sq. ft. lot. Renton, WA 98057 The CA (Commercial Arterial) zoned property offers great retail exposure and is a future mix Parcel #: 420240-1400 used redevelopment site. County: King The property is directly across the street from the Renton Airport and is centrally located Total Building Size: Approx. 12,800 SF (per KCR) approximately 11.9 miles south of downtown Seattle, 11.4 miles from Bellevue and 7.2 miles from Seatac Airport. I-405 and I-90 are easily accessible. Total Lot Size: Approx. 30,600 SF (per KCR)

The property is being offered for $2,615,000. Zoning CA Frontage 230' # of Buildings 1 Year Built 1961 Eff. Year 1995 Construction Class Masonry Sprinklers No Financial Summary Price $2,615,000 Price PSF/Building $204.30 Price PSF/Land $85.46 Occupancy 100% NOI (Current) $169,918 Cap Rate (Current) .6.5% Demographics 1 Mile 3 Mile 5 Mile 2019 Population 15,957 103,102 253,881 2019 Median HH Income $67,757 $69,468 $74,709

2019 Daytime Employees 8,000 53,000 120,000 415 Rainier Avenue N Property Highlights | 3

Property Highlights

• Excellent investment and future development opportunity • National credit anchor tenant • Long term NN leases • Close proximity to highways and transportation hubs • 6.5% Cap Rate • Located across the street from the Renton Municipal Airport • Approximately 23,113 cars per day on Rainier Avenue North • Approximately 230 feet of frontage on the main arterial • Monument signage • Ample Parking • Easy ingress/egress • CA Zoning Commercial Arterial

Offering Summary

The property ownership has secured Cannon Commercial to market and review offers from qualified buyers for 415 Rainier Avenue N. The subject property has been family owned and managed since 1961 and this will mark its first time going to market. 415 Rainier Avenue N Tenant Profile | 3

Tenant Profile

1 Tenant Name Cash America Headquartered: Fort Worth, Texas Website: cashamerica.com # of Locations: 2,600 % of Building: Occupies 50% of the building Description On September 1, 2016 First Cash International completed a merger with Cash America for $994 million to form a new merged company. The new company allows each store to retain its branding and joint operations are run from the Cash America corporate location. FirstCash is now traded on the NYSE under the ticker FCFS.

First Cash is the leading international operator of pawn stores with more than 2,600 retail pawn locations and more than 21,000 employees in 24 U.S. states, the District of Columbia and Latin America.

2 Tenant Name Evergeen Market Headquartered: Auburn, Washington Website: shop.theevergreenmarket.com # of Locations: 5 % of Building: Occupies 25% of building Description The Evergeen Market was founded in 2014 by Eric Gaston, Arne Nelson and Jeff Anderson. They are three dads from Issaquah who met while their daughters were in the YMCA Y-Princesses. Each of the founders have diverse backgrounds, and it was their shared vision of creating a whole new way to experience retail cannabis that led them to opening Renton's first cannabis store. Evergreen Market currently has 5 locations; Auburn, N. Renton, S, Renton, Kirkland and Bellevue.

3 Tenant Name Carniceria Los Compadres Headquartered: Everett, Washington Website: https://www.facebook.com/carnicerialoscompadres3/ # of Locations: 3 % of Building: Occupies 25% of building Description Carniceria Los Compadres #3 is a family run butcher, restaurant and ethnic market featuring authentic mexican food and products such as piña- tas, dairy, fruits and vegetables. They offer fresh cut meat and food for any occasion and pride themselves on their excellent service and offering the freshest prepared-to-order meat cuts. 415 R415 Rainierainier AAvenue Nvenue N Financial Summary| 3 ------

Financial Summary

Click Here to Sign NDA for Access to Financial Information

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Zoning | 6

N NEWCAST EWC LE W AST A LE Y GOLF CL UB R D AY Zoning W W COR R CA C M E C LAKE O ER R A C E L ZoningER M BOREN

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R-6 P R-8 K R-6 W R-6 Y S R-6 E R-6 R-6 RC YCR SE M The purpose of the CC land use designation is to allow for commercial MA EE K AY V ´ ALLEY R D R-8 RC R-4 R-1 R-8 districts that provide daily goods and services for nearby neighborhoods R-4 R-6 R-6 R-8 RC R-8 and on a sub-regional basis, as well as providing local employment R R-8 AI NI R-1 ER A ¨¦§405 R-8 opportunities. Many of the existing commercial districts that serve this VE R-4 S T900 R-8 E

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N CA ON N 4TH ST CA CA CA A VE N CA SE 128TH ST S 3RD ST CA CA NE 4TH ST RM-F R-8 the efficient infill and intensification of commercial use. Access to transit 13 R-4 S 133RD ST S 2ND ST

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S IL services, arterial access, and pedestrian connections and amenities are CD S R-8 R-4 E R-4 E

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A all hallmarks of the CC designation. Uses in the CC designation include a L R

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W T IE I E CO W V R-4 R A RI ER V R variety of medium intensity uses: general business, services, restaurants, E R D CO IM CEDA SW S S 7TH ST R-4 I N B SW 7TH ST W RC L T IM A CA CA R-8 E C IM Y K IM A offices, retail, professional services, medical offices, light industrial,- sto R W 169 U R Y DY R-14 T IH I A A V W R R-8 R DY S G E RA E B R W G S A S L N IM RM-F P rage, and even some limited residential uses. Commercial Corridors may O RC A A H V K IM B CA R-8 T

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A D R-8 T JONE also include concentrations of a specialty use, like the auto mall. O T RC H

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IL EAST VALLEY RD RM-F dent upon the traffic upon, the adjacent arterial. Three zones implement IM T IM 6

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1 SW 41ST ST S D E CO R-1 R R-8 V the CC designation: Commercial Office (CO), Commercial Arterial (CA), R R-4 A S CA IM CO R RC 180TH ST A H

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1 and Light Industrial (IL). I V R-4 G Y R 515 R-4 RE N W T R-1 E H R-4 Y RM-F R-6 E L L A R-8 R-4 V R-6 E R-14 R-14 CA Zone: This zone is intended to encourage the redevelopment of R-4 R-4 R-14 T167 T181 R-4 SE 192ND ST R-4 strip commercial areas into vibrant business districts that are physically R-6 R-1 R-4

E connected to the surrounding community by pedestrian pathways as well RC Renton City Limits CN-CommercialE Neighborhood R-4 S

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RC-ResourceH Conservation CV-Center Village as major arterials. CA zoning is placed on land that is dominated by linear H LAKE YOUNGS PANTHER LAKE T Y T 4 A 8 2 W

4 1 TH Updated by Ordinance 4 1 S 0 R1-Residential 1 du/ac E 2 CA-Commercial Arterial commercial development along long blocks and E S

# 5758, #5759, #5760 andA #5761

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T R4-Residential 4 du/ac UC-Urban Center

Effective as of July 1, 4 2015 characterized by primary uses located at the rear of the property with 8 Y A S 212TH S W City Boundary EffectiveT as of September 24, 2014 H R6-Residential - 6 DU/AC CD-Center Downtown surface parking in front. Residential development is allowed in this zone S 2 12 T 0 0.3 0.6 1.2 R8-Residential 8 du/ac COR-Commercial Office/Residential Miles SE 216TH ST

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1 RMF-Residential Multi-Family IM-Industrial - Medium S 228TH ST

Path: Y:\Files\Planning\Projects\ZoningPath: Map\Mxds\Zone2015\Zoning Effective Map 11X17 1July 2015.mxd RMH-Residential Manufactured Homes IH-Industrial - Heavy

Printed Date: 8/11/2015 415 Rainier Avenue N Market Overview | 7

Market Overview - Renton, WA

The City of Renton, Washington, with a population of 102,153 (2019), is located on the southeast shore of Lake Washington, just south of Seattle. Renton's strong economic base, diverse marketplace and favorable business climate have attracted the attention of nationally recognized companies that are providing employees and their families an outstanding quality of life.

Renton has a diverse marketplace, strong economic base, and a business climate that has attracted the attention of nationally recognized companies. It is most notably known as the home to The Boeing Company and PACCAR It is also the home of the Seattle Seahawks and Renton Municipal Airport. Renton’s pro-business climate has provided a strong foundation for a multitude of new and existing businesses.

New businesses are moving to Renton each year to provide even more 47K job opportunities and services. The Landing is an outdoor shopping plaza, hosting a variety of well-known stores, restaurants, services and a multiscreen movie theatre The Southport complex, is a recently completed mega-project which includes retail, residential units, the Hyatt Hotel and over 700,000 SF of commercial office space.

Affordable land costs and lease rates provide Renton with opportunities unseen throughout the rest of the Puget Sound region. With no local business and occupation (B&O) tax for businesses with annual gross receipts of less than $1.5 million, most businesses keep more earnings. The City's streamlined permitting process and low mitigation and permit fees help speed development, lower costs, ensure predictability, and reduce risk.

Businesses and families are choosing Renton for its affordability and location. New urban apartments, condominium projects and high-quality and affordable single-family subdivisions are emerging through-out the region. The city has seen a dramatic population increase in the last decade with an unparalleled growth of 82% and is predicted to continue to grow between 6-9% over the next 5 years. 415 Rainier Avenue N Location and Neaby Tenants | 8

Southport Major Tenants: Hyatt Regency, residential, 700,000 SF offce space. 6

The Landing 5 Major Tenants: Target, Dick's Sporting Goods, LA Fitness

47K

Airport Plaza 1 Major Tenants: Preservation on Main, Banner Bank, Anytime Fitness

Village Square

Major Tenants: Safeway, Alaska USA 203 S 2nd St. Plaza Credit Union, Starbucks 3 2 Major Tenants: Gamestop, Little Caesar's, Cigarland

Location South Lake Center Major Tenants: Fred Meyer's, Aaron's, 4 Centrally located in Renton at the south end of Lake Washington, O'Reilly Auto Parts 415 Rainier Avenue N is only minutes away from Seattle, Bellevue and Seattle-Tacoma International Airport. As the fifth largest city in King County and the 11th largest in Washington, Nearby Tenants Renton is at the center of an expansive regional and international transportation network. This network is intersected by many mass transit routes and is just minutes from air, sea and rail transport hubs. 415 Rainier Avenue N Photo Gallery| 9

47K Exclusive Representation Cannon Commercial Real Estate is the exclusive listing Brokerage for this Offering.Rich Cannon is exclusively representing the Seller in the sale of 415 Rainier Avenue N.

Property Tours All property tours will be conducted exclusively by Listing Broker and by appointment only. To learn more about this property and to schedule private tour, please contact Listing Broker directly.

Legal documents and reports summarized in this Offering Memorandum are not intended to be comprehensive statements of the terms or contents of such documents and reports. While the Seller and Cannon Commercial believe the information to be accurate, potential buyers should conduct an independent investigation and reach conclusions without reliance on materials contained herein. The material contained in this Offering Memorandum is confidential, under the terms and conditions of afi Con dentiality Agreement, which has been executed by the recipient as Reviewer, and furnished solely for the purpose of considering the purchase of the property described herein and is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of the Seller.

Exclusive Listing Broker: Rich Cannon Direct: 206.436.2345 Mobile: 206.353.9575 [email protected]