502 State AveMarysville, WA 98270

Property Details for 502 State Ave

Year built

1992

Property size (Sq ft)

4,785 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional one-story, 4,785 square foot office building in Marysville, WA presents a compelling investment opportunity. Located at 502 State Ave, this Class B, multi-tenant property boasts a prime location in the heart of Marysville's downtown core, directly across from City Hall and Comford Park. The building, constructed in 1992, features three units with a 100% occupancy rate, generating a strong net operating income (NOI) of $94,895 and a 6.33% cap rate. The property sits on a 12,197 square foot lot and benefits from high visibility due to its location on State Ave, a major thoroughfare with over 25,000 cars passing daily. A prominent monument sign with an electronic reader board further enhances visibility. The current leases are NNN, with a remaining term of approximately 2.1 years, and include a state-funded anchor tenant. Leases feature 3% annual rent increases, providing consistent income growth. One tenant is on a month-to-month lease, offering potential for owner-occupancy. This stabilized investment property offers a rare chance to acquire a well-maintained building in a thriving area with significant growth potential. The permitted zoning is DC. The asking price is $1,499,000, translating to a price per square foot of $313.27.

Location Insight

City

Marysville

County

Snohomish

State

Washington

Latitude

48.053

Longitude

-122.177

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