Address Map
US
Washington
King
Tukwila
98188
Strander Boulevard
512
W123° 45' 7.7''
N47° 27' 22.5''
Additional Information
Clayton Brown
30045
974500
18,900 Sqft
30,056 Sqft
39
512 Strander Blvd
Not Assigned
1
Masonry
98101
WA
Seattle
401 Union Street, 32nd fl
Property Description

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 well above an 8% 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 backfil

For Sale

512 Strander Boulevard, Tukwila, Washington 98188

  • Square Footage: 20,000 Sqft
$4,295,000
Listing ID#687979
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Basic Details
Property Type : Retail
Listing Type : For Sale
Listing ID : 687979
Price : $4,295,000
Square Footage : 20,000 Sqft
Year Built : 1969
Status : Active
Office Name : Marcus & Millichap, Inc.
Property Sub Type : Retail
BROKER INFO
Rene Orona
BROKER OF REAL ESTATE
BROKER OF REAL ESTATE
3380 146th PL SE Suite 300
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