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Marcus & Millichap Arranges $2.9M Sale Of AutoZone Tenant Retail Property
SOLD
$2,900,000
Washington
See Similar DealsRetail6,030 SF
Sold 06/18/2024
SOLD
Marcus & Millichap Arranges $2.9M Sale Of AutoZone Tenant Retail Property
18217 Aurora Avenue North
See Similar DealsRetail6,030 SF
Sold 06/18/2024
Summary
WASHINGTON
Asset Type:Retail
Price Per Square Foot:$480
Total Square Footage:6,030 SF
Transaction Type:Sale
The 6,030-square-foot retail property located at 18217 Aurora Avenue North in Shoreline, WA, was sold for $2,900,000. The property features a net lease with AutoZone as the tenant, including a recent 10-year extension with scheduled rent increases every five years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,900,000
- Address: 18217 Aurora Avenue North, Shoreline, WA
- Market: Shoreline, WA
- Square Footage: 6,030
Carson Breshears and Harrison Wolfer from Marcus & Millichap represented the parties involved in the $2.9 million sale of the retail property. The transaction was organized by Marcus & Millichap, showcasing their expertise in the commercial real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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