Retail Business for Sale in Everett, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Everett, WA 98201

Description

Marcus & Millichap has been selected to exclusively market for sale a corporate guaranteed absolute net Walgreens located in rapidly growing Everett, WA. The Property features an attractive assumable loan at roughly 85% LTV, fixed until March, 2029 at 5.19% interest only, resulting in a 27.60% cash-on-cash return. This location boasts strong historical store sales north of $3,000,000/year and has experienced an increase in sales and prescriptions after the recent closing of the Bartell Drugs (Rite Aid) location roughly 0.3 miles to the north. The Property is strategically located at a signalized hard corner with four ingress/egress points and a drive-thru. The location is roughly a 10 minute drive from Paine Field, an international airport with total economic impact/business revenue of nearly $60 billion annually and 158,227 jobs (direct and indirect, per Snohomish County). The Property is less than 5 minutes away from The Commons Naval Station Everett (NSE), the home port of Carrier Strike Group 11, claimed “as the single most powerful mobile force in the world,” and home to approximately 6,000 Navy personnel. Within a 5-mile radius there are over 121,000 residents with average household incomes in excess of $116,000/year. Since 2010, the surrounding area has grown by over 18%. Investment Highlights: • ABSOLUTE NET LEASE • ATTRACTIVE ASSUMABLE FINANCING, 27.60% CASH-ON-CASH RETURN • STRONG STORE SALES | $3,000,000+ ANNUALLY • LIMITED DRUG STORE COMPETITION • SIGNALIZED HARD CORNER WITH HIGH TRAFFIC COUNTS (25,000+ VPD) • CORPORATE GUARANTEE WITH STRONG BACKING • LOCATED IN HIGH-GROWTH SUB-MARKET WITH AFFLUENT DEMOGRAPHICS • LOCATED ADJACENT TO HIGH-VOLUME SAFEWAY AND QFC

Market Context

This retail in Everett, WA is listed for sale. It is offered at an approximate 8.5% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 54 days. Compare it against other retail listings for sale in Everett, WA — <a href="/search/sale/retail/washington/everett">view the full market</a>.

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