FOR SALE BURIEN RETAIL PROPERTY

Transcription

1 FOR SALE BURIEN RETAIL PROPERTY 225 SW 152ND STREET, BURIEN, WA CONTACT INFORMATION: ELLEN MOHL SENIOR BROKER

2 EXECUTIVE SUMMARY INVESTMENT SUMMARY OFFERING PRICE $699,000 ADDRESS 225 SW 152nd St PARCEL NUMBER CAP RATE 5.2% NOI $36,354 LOT SIZE 7,500 SF YEAR BUILT 1957 TOTAL BUILDING NET SF 5,880 SF ZONING DC PRICE / SF $ PROPERTY OVERVIEW Westlake Associates is pleased to present this perfect little neighborhood retail building for sale in Burien. On a retail street, the property is ideal for the small investor or user. LOCATION OVERVIEW Tree-lined neighborhood retail street in the heart of Burien. PROPERTY HIGHLIGHTS Already divided into 3 retail stores On street, pull-in parking in front of the building Nearby tenants include Bank of America, Elliot Bay Brewhouse and Pub, and Grand Central Bakery Across the street from a grocery anchored shopping center 92 Walk Score

3 AMENITIES MAP

4 DEMOGRAPHICS MAP POPULATION 1 MILE 3 MILES 5 MILES Total population 13,158 81, ,006 Median age Median age (Male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 6,031 32,638 77,743 # of persons per HH Average HH income $67,290 $66,753 $64,724 Average house value $363,524 $357,095 $344,283 * Demographic data derived from 2010 US Census

5 BURIEN, SEATAC, TUKWILA BURIEN, SEATAC, TUKWILA The communities of Burien, SeaTac and Tukwila sit at the crossroads of the major freeway interchanges of 1-5 and I-405, with a 20-minute trip to downtown Seattle. Southwest King County offers a wide choice of housing options. Affordable multiplefamily dwellings provide entry-level hosing. Well-maintained, quiet residential neighborhoods offer opportunities for first time homebuyers. Vies of Mt. Rainier and Puget Sound are available in many neighborhoods. Southwest King County not only has a number of showcase malls, but there is a growing commitment in each community to provide a unique atmosphere to individual retail districts. Southcenter, a major suburban shopping center, is located in Tukwila. A wide variety of sister malls continue to hold a dominant place in the area s retail life. A variety of ethnic and uniquely focused shops lend a unique favor to the downtown core of Burien. There is no doubt that the region takes education seriously. The area s network of public school districts, private schools, community colleges and technical colleges provide a multitude of options for lifelong learning. The region also provides a wealth of opportunities for arts and sports enthusiasts. Theaters, museums, orchestras, professional and amateur arts and sporting groups, sailing, golfing, hiking, canoeing, biking and bird watching are all available for leisure time enjoyment. 20 Mins DISTANCE TO SEATTLE 27 Mins DISTANCE TO TACOMA SEATTLE-TACOMA INTERNATIONAL AIRPORT WESTLAKE ASSOCIATES, INC.

6 PUGET SOUND SUMMARY PUGET SOUND Set in the beautiful Pacific Northwest, the greater Seattle area is a national center for manufacturing, technology, services, international trade and tourism. MAJOR EMPLOYERS Today some of the world s most recognizable Fortune 500 companies call Seattle home: Microsoft, Starbucks, Amazon, Nordstrom, Costco and REI. Other major companies in the area include Boeing, T-Mobile. Expedia, F5 Networks and Nintendo of America. According to the Puget Sound Business Journal, technology companies are leading the way in employment growth in the Seattle MSA. As the home of Microsoft and Amazon, Seattle accounts for over 20% of the nation s software publishing employment. Microsoft is one of the top employers in the sate with over 42,000 employees. Their World Headquarters, located in Redmond is over 10 million square feet. largest maker of large commercial jets, and second largest global defense contractor. Boeing is one of the largest employers in the Puget Sound, employing approximately 80,000 in Washington. Employment is expanding through the greater Seattle area. The Puget Sound region is projected to generate 1.2 million new jobs by INTERNATIONAL TRADE Seattle has remained one of the most resilient cities due to its diverse industries, making it more attractive for new companies to relocate and expand in the area. The Port of Seattle, which also operates the Seattle-Tacoma International Airport, is a major gateway to Asia and cruises to Alaska. The Port of Seattle ranks as the 6th business seaport in the US, playing a key role in bringing international trade, transportation and travel to the Pacific Northwest. PUGET SOUND LARGEST EMPLOYERS 80,000 42,000 40,000 JOINT BASE LEWIS-MCCHORD 56,000 25,000 20,000 The Puget Sound has become a international leader in innovative industries with organizations such as the Fred Hutchinson Cancer Research Center, the University of Washington Medical Center and the Bill and Melinda Gates foundation. Healthcare employment is projected to continue to grow dramatically and Seattle has the 5th largest biotechnology Research and Development alliance between the University of Washington and the Fred Hutchinson Cancer Research Center. The Puget Sound is one of the capitals of the aerospace industry anchored by Boeing, the world s largest aerospace company, second- RECREATION The region is known for its quality of life, arts, and outdoor lifestyle which helps attract an educated workforce. Numerous camping, hiking, winter sports, and recreational activities are located a short drive from the city. Seattle s main attractions include Pike Place Market, the Space Needle, and Seattle Center, home of the 1962 World s Fair. Seattle is home to a number of professional sports teams including the 2013 Super Bowl champions, the Seattle Seahawks, the Seattle Mariners, and the Seattle Sounders FC soccer team. 20,000 15,000 10,000 13,000

7 BROKER CONTACT ELLEN MOHL Senior Broker PROFESSIONAL BACKGROUND Ellen has worked in commercial real estate since 1987 representing buyers and sellers of office, retail and industrial buildings as well as helping tenants find locations and landlords lease space. She brings a wealth of transactional experience and a local s knowledge of the Seattle and Eastside markets having been born and raised in greater Seattle. As a result of Ellen s experience, expertise and dedication, she represents multiple influential clients who use her services exclusively. She also frequently receives agent referrals as well as referrals from pleased clients. Her high level of integrity has resulted in a loyal customer base that provides them, and Ellen, with continued success year after year EDUCATION Culinary Institute of America, AOS 1974 University of Washington, BA Westlake Ave N, Suite 310 Seattle, WA T ellenmohl@westlakeassociates.com