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

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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 -------------------------. --------------- . LAKE WASHINGTON 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 W E C A R Y CA R-8 E E K 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 N purpose are oriented in a linear form along major arterials and E E CA E PA N R-4 N R V K A E R-8 R RM-F V D N A O E S I accommodate large volumes of traffic. However, the CC land use policies R-8 R-8 L N E L N R-4 E N R-8 A U E V V UC E UC V A UC S E U N CV A V E H D A E E V T M UC N R-8 call for the enhancement of these areas as redevelopment occurs, with CA S A V 7 N E R-8 A I 8 A E E O H E R-8 R U V R-8 S T V V R A A Q 8 A A D N I 6 UC O N K N H N O H coordinated site planning and design, pedestrian access and I R T O E A M A R-4 R 4 IM M G IH P 6 A D O 1 V R E E L amenities, boulevard treatment, development of structured parking, and NT E 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 R-10 NE 3RD ST E S S IL services, arterial access, and pedestrian connections and amenities are CD S R-8 R-4 E R-4 E V E V A V A R-4 A CA H H S T M S A 6 M O L 5 A all hallmarks of the CC designation. Uses in the CC designation include a L R RC 1 N I E CA L S RC D CA L 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 E IM E E E 4 S S S 5 N 1 S D SW 16TH ST R-8 R 4 1 E S R-8 0 S RD A D R-8 T JONE also include concentrations of a specialty use, like the auto mall. O T RC H L N E E W S RM-F G A P R R-8 Y A U S R E D R-14 I P VE SW N CO R-8 CO S R-8 G CO B R RM-F O RC O K R-6 C IL R-6 R CC land use should be designated areas already devoted to commercial IH E R-8 R-8 E R-6 K CO SW 27TH ST T A R-8 R-8 and office use. Characteristics of land suitable for CC designation L R-6 B RC O SE 168TH ST T R E D include developments on large parcels that are visible from, and depen- SW 34TH ST S CA R-6 S E R-8 IL V R-14 A H IL EAST VALLEY RD RM-F dent upon the traffic upon, the adjacent arterial. Three zones implement IM T IM 6 E CA 1 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 SE C T 0 R R-8 SW 43RD ST 4 E 1 and Light Industrial (IL).
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