22633 Marine View Drive S, Des Moines, WA 98198
- $4,500,000
Listing courtesy of DBW Private Brokerage LLC.
- List Price
- $4,500,000
- Status
- ACTIVE
- MLS#
- 2506455
- Days on Market
- 105
Property Description
This offering presents a rare opportunity to acquire a 100 % leased, single-tenant retail asset occupied by Jack in the Box, Inc. in the highly accessible and densely populated submarket of Des Moines in King County. The freestanding building is situated on 23,630 SF of land at the intersection of Marine View Drive and South 227th Street, benefiting from excellent visibility and proximity to Des Moines Marina and Seattle-Tacoma International Airport, along with limited fast-food competition in the immediate area. The property features a long-term lease through November 2029, with four 5-year renewal options and CPICPI-based rent escalations, providing stable cash flow within the growing Puget Sound corridor.
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Additional Information
- Community
- Des Moines Waterfront
- Style
- 75 - Retail
- Year Built
- 2006
- Potential Terms
- Cash, Conventional
- Driving Directions
- From I-5 North: Take Exit 147 for S 272nd St, turn left onto S 272nd St, cross over the freeway, and the destination will be on the right
- Net Operating Income
- $200,916
- Gross Scheduled Income
- $200,916
- Cap Rate
- 4.46
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.