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Verizon Retail Center 219-221 State Ave

6,853 SF 69% Leased Retail Building Marysville, WA 98270 £1,834,710 (£268/SF) 5.50% Net Initial Yield

Investment Highlights

  • Occupied by Verizon, Edward Jones, Reboot Recovery and PacWeezy Barbershop
  • All tenants operate on a triple net lease structure that insulates Landlord from the rising cost of operating expenses
  • Located within the Marysville-Arlington trade area, one of the state’s fastest-growing communities and the second-largest city in Snohomish County
  • Verizon comprises 20% of the GLA and has occupied the premises for over 12 years with a brand new 5-year extension
  • Pad site of the Albertsons-anchored Marysville Town Center, a daily-needs retail center with many national tenants
  • High average area income of $123k within a 3-mile radius

Executive Summary

The Offering provides the opportunity to acquire the Verizon Retail Center, a 6,853 SF, two-story pad of the Albertsons-anchored Marysville Town Center, a daily-needs retail center. The Property is 69% occupied by a mix of national credit-rated tenants and local operators, including Verizon, Edward Jones, Reboot Recovery, and a brand new lease with PacWeezy Barbershop to open in Q4 2024 (all operating on triple net leases). Additional upside provided upon lease-up of the 2,115 SF single vacancy. The Property benefits from its location at the hard corner of Fourth and State Streets, with direct access to I-5 ramps and a daily draw to the greater center, provided by a reportedly high-performing Albertsons, Big Lots, Staples, and brand-new leases with Burlington and Daiso.

Attachments

VerizonWirelessRetailCenter-Marysville-WA-Loop

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,853 SF
Building Class
B
Year Built/Renovated
1977/2011
Price
£1,834,710
Price Per SF
£268
Net Initial Yield
5.50%
NOI
£100,909
Percent Leased
69%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.43
Lot Size
0.11 AC
Zoning
DC - Downtown Commercial
Parking
850 Spaces (10 Spaces per 1,000 SF Leased)

Amenities

  • Bus Route

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 200
  • 2,115 SF
  • Retail
  • In-Line
  • Now
  • Pad
  • 4,000 SF
  • Retail
  • In-Line
  • Now

Available: 4,000 SF Retail Building Pad or 2,389 SF QSR with Drive Thru | Rental Rates: Call for Details | Join: Staples, Petco, JCPenney, Big Lots, Albertsons, Rite Aid, MOD Pizza, and more! *Broker to verify commission with Listing Agent when submitting an offer.

Space Size Space Use Position Available
200 2,115 SF Retail In-Line Now
Pad 4,000 SF Retail In-Line Now

200

Size
2,115 SF
Space Use
Retail
Position
In-Line
Available
Now

Pad

Size
4,000 SF
Space Use
Retail
Position
In-Line
Available
Now

Pad

Size 4,000 SF
Space Use Retail
Position In-Line
Available Now

Available: 4,000 SF Retail Building Pad or 2,389 SF QSR with Drive Thru | Rental Rates: Call for Details | Join: Staples, Petco, JCPenney, Big Lots, Albertsons, Rite Aid, MOD Pizza, and more! *Broker to verify commission with Listing Agent when submitting an offer.

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Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Albertsons
Starbucks
MOD Pizza
Bank of America
TacoTime
U.S. Bank
Heritage Bank
Dutch Bros
Rent-A-Center
KeyBank

PROPERTY TAXES

Parcel Numbers
Multiple
  • 005287-003-001-02
  • 005287-003-001-01
 Improvements Assessment £994,812
Land Assessment £302,727 Total Assessment £1,297,539

PROPERTY TAXES

Parcel Numbers
Multiple
  • 005287-003-001-02
  • 005287-003-001-01
Land Assessment
£302,727
Improvements Assessment
£994,812
Total Assessment
£1,297,539
(206) 693-3352

Contacts

  • Listing ID: 33207905

  • Date on Market: 17/09/2024

  • Last Updated:

  • Address: 219-221 State Ave, Marysville, WA 98270

The Retail Property at 219-221 State Ave, Marysville, WA 98270 is currently available for sale. Contact Northmarq for more information.

Nearby Listings

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219-221 State Ave, Marysville, WA for sale Building Photo- Image 1 of 5
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219-221 State Ave, Marysville, WA for sale Building Photo- Image 2 of 5
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219-221 State Ave, Marysville, WA for sale Building Photo- Image 3 of 5
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219-221 State Ave, Marysville, WA for sale Building Photo- Image 4 of 5
VerizonRetailCenter-Marysville-WA-LP4

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© 2024 CoStar Group

Verizon Retail Center | 219-221 State Ave
(206) 693-3352 x

Verizon Retail Center | 219-221 State Ave

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Sean Tufts

(206) 693-3352

(206) 693-3352

Kevin Adatto

(952) 356-0100

(952) 356-0100

Joe Dugoni

(206) 693-3329

(206) 693-3329

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