Fairwood Commerce Center | 14300 SE Petrovitsky Rd
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Fairwood Commerce Center 14300 SE Petrovitsky Rd
11,022 SF 100% Leased Office Building Renton, WA 98058 £3,302,478 (£300/SF) 6% Net Initial Yield
Investment Highlights
- First time on the market since originally constructed in 1979.
- With long-term tenants, and half the rentable SF is leased to dental tenants.
- Signalized hard corner location directly across street from the Fairwood Shopping Center, anchored by Safeway and 24 Hour Fitness.
- The center has been extremely well maintained, including a newer roof, exterior paint, seal coating, landscaping and heating and air conditioning.
- All tenants operate on NNN leases, allowing for full reimbursement of operating expenses.
- Renton is the 8th largest city in WA State and boasts average household incomes of $153K+.
Executive Summary
Kidder Mathews is pleased to present for the first time ever the opportunity to acquire the Fairwood Commerce Center, a 100% occupied center featuring a balanced mix of long-standing retail and dental tenants. Located on a signalized hard corner the property enjoys exceptional visibility and consistent traffic flow. Directly across the street is the Fairwood Shopping Center, anchored by Safeway, the only grocer serving the immediate area. All tenants operate on NNN leases with regular rent increases allowing future ownership to receive a stable, growing income stream. Current ownership has had zero actual vacancy for the last 30+ years.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
11,022 SF
Building Class
C
Year Built
1979
Price
£3,302,478
Price Per SF
£300
Net Initial Yield
6%
NOI
£198,149
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
5,511 SF
Building FAR
0.40
Lot Size
0.63 AC
Zoning
CB
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 342305-9146 | Improvements Assessment | £1,204,687 |
| Land Assessment | £788,048 | Total Assessment | £1,992,734 |
PROPERTY TAXES
Parcel Number
342305-9146
Land Assessment
£788,048
Improvements Assessment
£1,204,687
Total Assessment
£1,992,734
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Fairwood Commerce Center | 14300 SE Petrovitsky Rd
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