3532 BroadwayEverett, WA 98201

For Sale
$2,110,000

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple ownership of a thriving convenience store and gas station located at 3532 Broadway, Everett, WA 98201, within the Seattle MSA. The property boasts a 2,399 square foot building situated on a 0.55-acre lot. Currently operating under a 20-year absolute NNN lease with United Pacific | Apro, LLC, a corporate guarantor, the lease commenced July 1, 2015, and expires June 30, 2035, leaving a substantial 10.6 years remaining. The lease includes attractive 7.5% rent bumps every five years and three 5-year lease options. The property generates a strong net operating income (NOI) of $115,809, resulting in a compelling 5.50% cap rate. The property benefits from its location on a main retail thoroughfare with approximately 192,000 vehicles passing daily, providing excellent visibility and accessibility. Its proximity to I-5 and a minor league baseball stadium further enhances its strategic position within a top metropolitan statistical area (MSA). This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term value and potential for appreciation in a tax-free state. The asking price is $2,110,000. 100% occupancy ensures consistent cash flow.

Highlights

  • Long-term absolute NNN lease with 10.6 years remaining.
  • Zero landlord responsibilities; 7.5% rent increases every five years.
  • Corporate lease with United Pacific | Apro, LLC guarantor.
  • High-traffic location on a main retail thoroughfare with ~192,000 vehicles per day (VPD).
  • Prime location in the Seattle MSA.
  • Located in a tax-free state.

Property Details for 3532 Broadway

Property type
Other specialty properties, Other retail properties
Square Feet
2,399 SF
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Everett
County
Snohomish
State
Washington
Latitude
47.9702594
Longitude
-122.2017277
3532 Broadway, Everett, Washington

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3532 Broadway
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