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Chase NWC 132nd Street SE & 16th Avenue SE

2,700 SF Retail Building Everett, WA 98208 £2,176,588 (£806/SF) 4.75% Net Initial Yield

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INVESTMENT HIGHLIGHTS

Brand new construction 2023/2024
1.5 miles east of the Link Light Rail at Mariner Station

Outparcel at the signalized main entrance to a Fred Meyer & Walgreens Grocery / Drug Anchored Shopping Center

EXECUTIVE SUMMARY

This property, located at the northwest corner of 132nd Street SE and 16th Avenue SE in Everett, Washington, is a ~3,000 square-foot building on approximately 0.43 acres of land. Built in 2023, it is leased to JPMorgan Chase Bank, N.A. under a 15-year absolute NNN ground lease with 10% rent increases every five years. The sale price is $2,888,888, with a net operating income of $130,000 and a 4.5% cap rate.

Everett WA - Chase Bank OM

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Bank

Building Size

2,700 SF

Building Class

Year Built

2024

Price

£2,176,588

Price Per SF

£806

Net Initial Yield

4.75%

NOI

£103,388

Tenancy

Single

Number of Floors

Building FAR

0.14

Lot Size

0.43 AC

Zoning

CB - CB – Commercial, Business

AMENITIES

Signage

Drive Thru

MAJOR TENANTS

Finance and Insurance
-
£34.45
NNN
Jun 2039

Chase Bank is proud to serve millions of people with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with trillions of dollars in assets and operations worldwide.