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Shopping Strip

Woodmont Place Shopping Place

26110 Pacific Hwy S, Kent, WA 98032

Listing Price: $11,000,000

Cap Rate
5.99%
Gross SF
37,147
Rentable SF
37,147
Price/Gross SF
$296.12
Lot Size
3.75 acres
Year Built
1985

Investment Overview

Marcus & Millichap has been exclusively selected to market for sale four parcels within Woodmont Place Shopping Center, a multi-tenant retail center located along Pacific Highway in Kent, Washington. Shadow anchored by three national tenants, Grocery Outlet, Dollar Tree and Rite Aid Pharmacy; this offering includes 18 spaces spread over 4 buildings. The center is occupied with short term NNN leases that offer annual rent increases. Some of the noteworthy tenants include City of Kent Police, USA Vein Clinics, and EZ Smoke. There is plenty of opportunity to add value by replacing the hyper-local tenants with larger, more stable tenants and longer leases. The property is well located on one of the busiest retail corridors in Kent. The growth in this area has called for Sound Transit to introduce the Federal Way Link Extension project. The light rail extension will run from Angle Lake in SeaTac to Federal Way Transit Center through Woodmont by 2024. Kent is also the hub of industrial activity in Washington and has major employers such as Amazon, Boeing, Blue Origin, and Alaska Airlines contributing to its economy. The property is located at a highly trafficked intersection at the corner of Pacific Highway (Hwy 99) (+32,000 VPD) and South 260th Street (+12,000 VPD) and is less than 0.5 miles from I-5 (+215,000 VPD).

Investment Highlights

  • Shadow Anchored by National Tenants
  • Short term NNN leases
  • No Options
  • High Traffic Retail Corridor
  • No Income Tax State
  • Value Add Opportunity

Exclusively Listed By

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Shopping Strip

Woodmont Place Shopping Place

Listing Price: $11,000,000

Cap Rate
5.99%
Gross SF
37,147
Rentable SF
37,147
Price/Gross SF
$296.12
Lot Size
3.75 acres
Year Built
1985

Investment Highlights

  • Shadow Anchored by National Tenants
  • Short term NNN leases
  • No Options
  • High Traffic Retail Corridor
  • No Income Tax State
  • Value Add Opportunity

Investment Overview

Marcus & Millichap has been exclusively selected to market for sale four parcels within Woodmont Place Shopping Center, a multi-tenant retail center located along Pacific Highway in Kent, Washington. Shadow anchored by three national tenants, Grocery Outlet, Dollar Tree and Rite Aid Pharmacy; this offering includes 18 spaces spread over 4 buildings. The center is occupied with short term NNN leases that offer annual rent increases. Some of the noteworthy tenants include City of Kent Police, USA Vein Clinics, and EZ Smoke. There is plenty of opportunity to add value by replacing the hyper-local tenants with larger, more stable tenants and longer leases. The property is well located on one of the busiest retail corridors in Kent. The growth in this area has called for Sound Transit to introduce the Federal Way Link Extension project. The light rail extension will run from Angle Lake in SeaTac to Federal Way Transit Center through Woodmont by 2024. Kent is also the hub of industrial activity in Washington and has major employers such as Amazon, Boeing, Blue Origin, and Alaska Airlines contributing to its economy. The property is located at a highly trafficked intersection at the corner of Pacific Highway (Hwy 99) (+32,000 VPD) and South 260th Street (+12,000 VPD) and is less than 0.5 miles from I-5 (+215,000 VPD).

Exclusively Listed By

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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