10120 269Th PlStanwood, WA 98292

Property Details for 10120 269Th Pl

Year built

1997

Construction

TYPE NOT SPECIFIED

Lot size

4.09 AC

Property size (Sq ft)

194,176 SF

Zone code

UE

Property type

Industrial properties

Property subtype

Other warehouses

APN

32032400302500

APU

32032400302500

Description

This exceptional 198,487-square-foot industrial property in Stanwood, Washington, presents a compelling sale-leaseback opportunity. Located at 10120 269th Pl NW, this facility boasts a 20-year absolute triple-net lease with a tenant occupying 100% of the space. The lease includes a 2.5% annual rent increase, ensuring consistent income growth. The property, built in 1997 and situated on 6.06 acres, includes seven loading docks and ceiling heights of up to 30 feet. Recent renovations totaling $15 million have modernized production lines, enhancing operational efficiency. The property's strategic location within the high-demand Everett-Seattle-Tacoma cold storage market provides significant long-term value. The sale price is $32,000,000, offering a strong 7.85% capitalization rate and a substantial net operating income (NOI) of $2,512,000. The lease features four, five-year renewal options, providing further security and flexibility. This is a rare opportunity to acquire a high-performing, mission-critical asset with a long-term, stable tenant and significant upside potential. The property's classification includes manufacturing, refrigerated/cold storage, and warehouse functionalities, making it suitable for a variety of uses within the food processing industry. The tenant's consolidation of operations into this facility underscores its importance to their business and the stability of the lease.

Location Insight

City

Stanwood

County

Snohomish

State

Washington

Latitude

48.2404

Longitude

-122.373

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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