18935 59th Avenue NE, Arlington, WA, 98223
18935 59th Avenue NEArlington, WA 98223
Listing courtesy of Lyle Sorenson of Windermere Real Estate Whatcom
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Investor Alert! Great building at Arlington Airport, in rapidly growing, established industrial area just minutes from the new Amazon warehouse and much more. Building floor plate is 21,500 s.f. plus built out 2nd floor offices, bull pen, conference room, lunch room and rest rooms. Long term tenant w renewed lease and in process, negotiated land lease extension. Based on a year one rent of $252,000 and a purchase price of $3,528,000, the initial cap rate is 7.14%. Rent escalates 3% annually with the cap rate at 8% by year 4 of the 12-year lease. With the Seller funding improvements at closing of $583,880. This provides the owner with a forty (40) year land lease and a fully renovated investment property at no additional cost.
| 2 weeks ago | Listing updated with changes from the MLS® | |
| 4 months ago | Status changed to Active | |
| 5 months ago | Listing first seen on site |
Listing courtesy of Lyle Sorenson of Windermere Real Estate Whatcom
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Based on Information submitted to the MLS Grid as of: 2024-10-29 05:00 PM PDT
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