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Warehouse

Net-Leased Puyallup Warehouse

10004 162nd St Ct E, Puyallup, WA 98375

Listing Price: $3,040,000

Cap Rate
6.75%
Gross SF
14,250
Price/Gross SF
$213.33
Lot Size
1.38 acres
Year Built
1978
Rentable SF
14,250

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Net-Leased Puyallup Warehouse, a 14,250 SqFt industrial property located in South Hill, Puyallup, WA (the "Property"). The Property features a brand new 5-year lease with a local sports training organization called HEIR Sports Academy. HEIR has built a reputation regionally as a leading advocate for high school athletes looking to get noticed by college football programs. Built in 1978, the Property is a metal building with approximately 3,400 SqFt of non-industrial space, situated on 1.38 acres. It was purchased in 2008 by the current owner, and the upstairs office space was converted into a spacious, two-bedroom apartment unit. Uniquely located in a low-supply industrial submarket, the Property sits two blocks from the Pierce County Airport, in the heavily trafficked Sunrise Village shopping area of South Hill, Puyallup. Just minutes away is the booming industrial area of Frederickson, which plays host to the likes of Boeing, Ikea, Best Buy and Whirlpool. This is a rare opportunity to own a free standing industrial building in a market with rapidly rising industrial rental rates due to supply constraint and increasingly high demand. The NNN lease allows for minimal landlord responsibilities and passive ownership structure.

Investment Highlights

  • Single Tenant Net-Leased Warehouse Opportunity
  • Brand New 5-Year Lease With Annual Increases And Options To Extend
  • Extremely Low Vacancy Submarket
  • Ideal 1031 Exchange Property With Passive NNN Lease

Exclusively Listed By

Financing By

Warehouse

Net-Leased Puyallup Warehouse

Listing Price: $3,040,000

Cap Rate
6.75%
Gross SF
14,250
Price/Gross SF
$213.33
Lot Size
1.38 acres
Year Built
1978
Rentable SF
14,250

Investment Highlights

  • Single Tenant Net-Leased Warehouse Opportunity
  • Brand New 5-Year Lease With Annual Increases And Options To Extend
  • Extremely Low Vacancy Submarket
  • Ideal 1031 Exchange Property With Passive NNN Lease

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Net-Leased Puyallup Warehouse, a 14,250 SqFt industrial property located in South Hill, Puyallup, WA (the "Property"). The Property features a brand new 5-year lease with a local sports training organization called HEIR Sports Academy. HEIR has built a reputation regionally as a leading advocate for high school athletes looking to get noticed by college football programs. Built in 1978, the Property is a metal building with approximately 3,400 SqFt of non-industrial space, situated on 1.38 acres. It was purchased in 2008 by the current owner, and the upstairs office space was converted into a spacious, two-bedroom apartment unit. Uniquely located in a low-supply industrial submarket, the Property sits two blocks from the Pierce County Airport, in the heavily trafficked Sunrise Village shopping area of South Hill, Puyallup. Just minutes away is the booming industrial area of Frederickson, which plays host to the likes of Boeing, Ikea, Best Buy and Whirlpool. This is a rare opportunity to own a free standing industrial building in a market with rapidly rising industrial rental rates due to supply constraint and increasingly high demand. The NNN lease allows for minimal landlord responsibilities and passive ownership structure.

Exclusively Listed By

Financing By

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