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Shopping Strip

Another Castle & Crave 80's

8628 36th Ave NE, Marysville, WA 98270

Listing Price: $1,470,000

Cap Rate
6.35%
Gross SF
5,548
Rentable SF
5,548
Price/Gross SF
$264.96
Lot Size
0.40 acres
Year Built
2009

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Another Castle & Crave 80’s, a fully occupied two-tenant retail center, located in affluent Marysville, WA. The Property is adjacent to a recently renovated Holiday Inn and is located between the main arterials of I-5 and State Ave in Marysville. Below market rents provide an investor with stability and future upside, with achievable rents in the submarket being in the $20-$24/SF range. Both tenants’ leases also include annual rent increases, providing an investor with a hedge against inflation. Another Castle & Crave 80’s is located within the Marysville retail trade area which boasts in excess of 5.5 million visitors annually, anchored by the Seattle Premium Outlets, Tulalip Resort, and tenants such as, Walmart, The Home Depot, Chick-fil-A, Haggen, Fred Meyer, Safeway, Coastal Farm & Ranch, and Grocery Outlet. The Property benefits from visibility to over 27,000 vehicles per day, ample parking and a favorable ingress and egress maintained by Holiday Inn next door. Located across the street, Heart Saved Adult Family Home is developing a new 16-bed enhanced services facility for seniors. Within a 5-mile radius, the population has grown by over 17% since 2010 and average household incomes are over $100,000.

Investment Highlights

  • Below Market Rent
  • 100% Leased / recently Extended Leases
  • Annual Rent Increases
  • Minimal Landlord Responsibilities
  • Strong Retail Trade Area
  • Affluent, high-Growth Submarket
  • Surrounded by New Development
  • Income Tax Free State

Exclusively Listed By

Shopping Strip

Another Castle & Crave 80's

Listing Price: $1,470,000

Cap Rate
6.35%
Gross SF
5,548
Rentable SF
5,548
Price/Gross SF
$264.96
Lot Size
0.40 acres
Year Built
2009

Investment Highlights

  • Below Market Rent
  • 100% Leased / recently Extended Leases
  • Annual Rent Increases
  • Minimal Landlord Responsibilities
  • Strong Retail Trade Area
  • Affluent, high-Growth Submarket
  • Surrounded by New Development
  • Income Tax Free State

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Another Castle & Crave 80’s, a fully occupied two-tenant retail center, located in affluent Marysville, WA. The Property is adjacent to a recently renovated Holiday Inn and is located between the main arterials of I-5 and State Ave in Marysville. Below market rents provide an investor with stability and future upside, with achievable rents in the submarket being in the $20-$24/SF range. Both tenants’ leases also include annual rent increases, providing an investor with a hedge against inflation. Another Castle & Crave 80’s is located within the Marysville retail trade area which boasts in excess of 5.5 million visitors annually, anchored by the Seattle Premium Outlets, Tulalip Resort, and tenants such as, Walmart, The Home Depot, Chick-fil-A, Haggen, Fred Meyer, Safeway, Coastal Farm & Ranch, and Grocery Outlet. The Property benefits from visibility to over 27,000 vehicles per day, ample parking and a favorable ingress and egress maintained by Holiday Inn next door. Located across the street, Heart Saved Adult Family Home is developing a new 16-bed enhanced services facility for seniors. Within a 5-mile radius, the population has grown by over 17% since 2010 and average household incomes are over $100,000.

Exclusively Listed By

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