512 Strander Blvd (Status: Available) 5100000

512, Strander Boulevard, Tukwila, WA  98188

We have been exclusively selected to market for sale Foss Audio, a prime location opportunity featuring a short-term lease with below market rent and a fair market rent option. The Tenant is currently paying just $10.74/SF + NNN with market rents achievable in the $19-$22/SF + NNN range. The Tenant’s option in 3 years is at Fair Market Rent (FMR), allowing an investor near-term upside above a 7% cap rate by simply increasing rent to market. The Property is zoned TUC-TOD (Tukwila Urban Center – Transit Oriented Development) which permits numerous commercial uses including retail, office, hospitality, multifamily, senior housing, government, education, and transportation uses. If the tenant were to leave at the end of its lease term and option term, a new owner would be able to backfill the

Listing Details

Asset Class: Retail
Year Built: 1969
Building Total Square Feet: 20000
Available Lease Space Square Feet: 18900
Number of Floors: 1
Total Parking Spaces: 39
Local Zoning Information: TUC-TOD

Listing Courtesy of: Marcus & Millichap, Inc.

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.