Retail Space - For Sale
8213 State Avenue Marysville, WA 98270
Details & Description
Price: $1,550,000
  • Property Type Retail : Free Standing Building
  • Lot Size Acres 0.000
  • Building Sq Ft 12,171
  • Building Price per Sq Ft $127.35
  • Land Price per Sq Ft $127.35
NAI Puget Sound Properties is pleased to offer for sale NAPA Auto Parts, a 12,171-square-foot retail center located at 8213 State Avenue in Marysville, Washington.The property is situated on a .75-acre lot zoned CB and is 100% occupied by the sole tenant, NAPA Auto Parts, Genuine Parts Company. NAPA is a leading auto parts retailer with over 6,000 retail locations and over 16,000 AutoCare & Collision Centers throughout the United States.NAPA Auto Parts has 3 years remaining on their NNN lease, with two 1-year options to extend. The lease provides 3% annual increases throughout the term. The tenant is currently paying below market rent, providing an investor with future upside potential upon re-leasing. In addition, the listing price represents $127.35 per square foot, which is far below replacement cost. The property is also subject to a billboard lease that provides an additional $3,427.00 / year with 2% annual rental increases.This offering allows an investor to purchase a rare western Washington single-tenant asset with a strong corporate tenant and upside, while still achieving high as-is returns.The property is ideally located on State Avenue, a main arterial with average traffic counts of 21,800 vehicles per day. Additionally, the property is located close to an I-5 on/off ramp, which provides convenient accessibility and boasts traffic counts of over 117,000 vehicles per day. The trade area is surrounded by a vibrant mix of large national retailers such as Walmart, Fred Meyer, Safeway, Home Depot, Cabela’s, and the Seattle Premium Outlets.8213 State Avenue is being offered for sale at $1,550,000, which equates to a 6.41% capitalization rate.
Listing Agents
Nick Bierly
NAI Puget Sound Properties
O: 425-586-5631
M: 206-612-0655
nbierly@nai-psp.com
Kyle Sterling
NAI Puget Sound Properties
O: 425-586-5608
M: 206-930-2658
ksterling@nai-psp.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

8213 State Avenue

Marysville, WA 98270

Listing ID: 245612
$1,550,000
For Sale
  • Property Type Retail : Free Standing Building
  • Lot Size Acres 0.000
  • Building Sq Ft 12,171
  • Building Price per Sq Ft $127.35
  • Land Price per Sq Ft $127.35
  • 8213 State Avenue Marysville, WA 98270 - main image
  • 8213 State Avenue Marysville, WA 98270 - alt image 2
8213 State Avenue - main image
8213 State Avenue - alt image 2
Description

NAI Puget Sound Properties is pleased to offer for sale NAPA Auto Parts, a 12,171-square-foot retail center located at 8213 State Avenue in Marysville, Washington.

The property is situated on a .75-acre lot zoned CB and is 100% occupied by the sole tenant, NAPA Auto Parts, Genuine Parts Company. NAPA is a leading auto parts retailer with over 6,000 retail locations and over 16,000 AutoCare & Collision Centers throughout the United States.

NAPA Auto Parts has 3 years remaining on their NNN lease, with two 1-year options to extend. The lease provides 3% annual increases throughout the term. The tenant is currently paying below market rent, providing an investor with future upside potential upon re-leasing. In addition, the listing price represents $127.35 per square foot, which is far below replacement cost. The property is also subject to a billboard lease that provides an additional $3,427.00 / year with 2% annual rental increases.

This offering allows an investor to purchase a rare western Washington single-tenant asset with a strong corporate tenant and upside, while still achieving high as-is returns.

The property is ideally located on State Avenue, a main arterial with average traffic counts of 21,800 vehicles per day. Additionally, the property is located close to an I-5 on/off ramp, which provides convenient accessibility and boasts traffic counts of over 117,000 vehicles per day. The trade area is surrounded by a vibrant mix of large national retailers such as Walmart, Fred Meyer, Safeway, Home Depot, Cabela’s, and the Seattle Premium Outlets.

8213 State Avenue is being offered for sale at $1,550,000, which equates to a 6.41% capitalization rate.

Attachments & Files

Listing Demographics for 8213 State Avenue Marysville, WA 98270

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population10,26355,78894,985
Population Median Age403838
Population by Age0-9 Yrs1290 (12%)7364 (13%)12597 (13%)
10-19 Yrs1204 (11%)7320 (13%)12412 (13%)
20-29 Yrs1387 (13%)7391 (13%)13157 (13%)
30-39 Yrs1297 (12%)7461 (13%)13187 (13%)
40-49 Yrs1296 (12%)6878 (12%)11905 (12%)
50-59 Yrs1415 (13%)8332 (14%)13263 (13%)
60-69 Yrs1170 (11%)6514 (11%)10857 (11%)
70+ Yrs1205 (11%)4528 (8%)7607 (8%)
Median HH Income$58,260$78,787$82,653
Total Household Income< 24K807 (19%)2598 (12%)4122 (12%)
25-49K991 (23%)3650 (18%)5477 (16%)
50-74K790 (18%)3367 (16%)5516 (16%)
75-99K650 (15%)3444 (16%)5567 (16%)
100-199K805 (19%)6225 (30%)10861 (32%)
200K+155 (3%)989 (4%)2095 (6%)
Highest Education LevelNo Diploma93737356140
Diploma or GED23781196018372
Some College20341074317985
Assoc. Degree81243047288
Bachelors Degree710502410047
Higher Degree27720244069
Total Housing Units4,51121,18735,422
--Owner-Occupied2,05513,43023,368
--Renter-Occupied2,1416,84110,271
Owner-Occupied Values< 100K2398811299
100-199K2087181323
200-299K64939896187
300-399K65049087970
400-499K19618703669
500K+11310652920
Total Working Age Population8,33544,32175,325
In Work Force5,17029,00649,978
Not In Work Force3,16615,31525,347
Workforce Employed4,80927,47245,873
Workforce Unemployed3531,4072,297
Civlian Workforce5,16328,87948,170
Military Workforce71271,808
Total Households4,19720,27133,638
Family Households2,36714,06923,635
Non-Family Households1,8306,20210,003
Married Couple1,78510,87518,194
Other Family5823,1945,441
Married w/Child7614,3597,524
Single Male w/Child79376885
Single Female w/Child2041,1331,774

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Washington5,894,121+146,724,540+147,638,415+118,503,178
Snohomish County606,024+18713,335+18841,998+14955,910

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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