Big 5 Sporting Goods | 910 S Burlington Blvd
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Big 5 Sporting Goods 910 S Burlington Blvd
14,955 SF 100% Leased Retail Building Burlington, WA 98233 £3,440,040 (£230/SF) 6.24% Net Initial Yield
Executive Summary
This two-tenant center is occupied by Sherwin-Williams and Big 5 Sporting Goods on long-term leases. Sherwin-Williams recently signed a new, 10-year lease and Big 5 exercised a 5-year extension option to their original primary lease term that started in 1994. The Sherwin-Williams Company (NYSE: "SHW"), ranked #175 on the Fortune 500 list, has signed a new 10-year net lease to a strong and growing corporate tenant. The lease includes scheduled rental increases in the option periods. Rated "BBB" by Standard & Poor's, Sherwin-Williams has demonstrated robust financial performance, growing its EPS by 11% per year over the last three years.
Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.
Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.
Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.
Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,955 SF
Building Class
B
Year Built
1995
Price
£3,440,040
Price Per SF
£230
Net Initial Yield
6.24%
NOI
£214,658
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.37
Land Acres
0.92 AC
Parking
44 Spaces (2.94 Spaces per 1,000 SF Leased)
Walk Score ®
Very Walkable (71)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | P23561 | Improvements Assessment | £1,111,149 |
Land Assessment | £900,801 | Total Assessment | £2,011,950 |
PROPERTY TAXES
Parcel Number
P23561
Land Assessment
£900,801
Improvements Assessment
£1,111,149
Total Assessment
£2,011,950
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Big 5 Sporting Goods | 910 S Burlington Blvd
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