RARE STAND-ALONE RETAIL BUILDING NE 85th Street, Kirkland, WA 98033

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Solomon Jacobs
5 years ago
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RARE STAND-ALONE RETAIL BUILDING 12822 NE 85th Street, Kirkl, WA 98033 FOR SALE: $2,000,000 FEATURES: Ideal for Owner/User Potential Redevelopment Site to a 3-Story Building Zoning: RH8 - Allows for

39 Acres) Building: 2,501 SF 12-18 Month Leaseback Available (Length Negotiable) The Cave Business is Also Available 12 Private Parking Stalls - An Additional 12 Stalls can be Added Behind Building

1 RARE STAND-ALONE RETAIL BUILDING NE 85th Street, Kirkl, WA FOR SALE: $2,000,000 FEATURES: Ideal for Owner/User Potential Redevelopment Site to a 3-Story Building Zoning: RH8 - Allows for office, retail, restaurant residential on floors 2 & 3 of redevelopment L: 17,117 SF (0.39 Acres) Building: 2,501 SF Month Leaseback Available (Length Negotiable) The Cave Business is Also Available 12 Private Parking Stalls - An Additional 12 Stalls can be Added Behind Building $200,000 Building Renovation Completed in 2015 Quick Access to DT Kirkl, DT Redmond & I-405 The information The information provided provided has has been been obtained obtained from from sources sources believed believed reliable. reliable. While While we we do do doubt doubt accuracy, accuracy, we we have have verified verified make make no no guarantee, guarantee, warranty warranty or representation or representation about about it. it. It is It is your your sole sole responsibility responsibility to to independently independently confirm confirm accuracy accuracy completeness. completeness. For more information, contact: ROSEN~HARBOTTLE COMMERCIAL REAL ESTATE Caleb Farnworth, CCIM (425) calebf@rosenharbottle.com

REGIONAL AREA MAP Totem Lake Malls Lake Washington Institue of Technology Willows Run Golf Course Kirkl Parkplace Subject Property Downtown Kirkl Exit 18 NE 85th St Downtown Redmond Redmond Town

2 REGIONAL AREA MAP Totem Lake Malls Lake Washington Institue of Technology Willows Run Golf Course Kirkl Parkplace Subject Property Downtown Kirkl Exit 18 NE 85th St Downtown Redmond Redmond Town Center Bridle Trails State Park Bellevue Golf Course Marymoor Park Microsoft Campus The Bellevue Collection Downtown Bellevue The information provided has been obtained from sources believed reliable. While we do doubt accuracy, we have verified make no

been obtained from sources believed reliable.

3 RETAIL TRADE AERIAL Subject Property Exit 18 NE 85th Street Exit 18 The information provided has been obtained from sources believed reliable. While we do doubt accuracy, we have verified make no

DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 2021 Projection 19,677 299,390 1,200,684 2016 Estimate 17,386 272,663 1,105,780 Growth Since 2010 55.64% 22.29% 13.

4 DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 2021 Projection 19, ,390 1,200, Estimate 17, ,663 1,105,780 Growth Since % 22.29% 13.82% Households 2021 Projection 7, , , Estimate 6, , ,671 Growth Since % 22.28% 13.45% 2016 Average HH Income $129,079 $124,886 $113,186 The information provided has been obtained from sources believed reliable. While we do doubt accuracy, we have verified make no

5 RENT vs. OWN - Simple Analysis RENT vs OWN Lease Assumptions Building Size 2,501 SF Pro Forma Monthly Rent $6,669 ($32.00/SF, NNN) assumes 33% tax bracket Purchase Assumptions Building Size 2,501 SF Purchase Price $2,000, Year Amoritzation assumes 33% tax bracket Initial Costs Prepaid Rent $6,669 Prepaid NNN Expenses ($5.00/SF) $1,042 Security Deposit $7,500 Total Initial Costs $15,211 Initial Costs (SBA Loan) (10%) Down Payment $200,000 Loan Fees Costs ($50K est) Financed Title & Escrow $5,000 Total Initial Costs $205,000 Monthly Lease Cash Outflow Rent Payment $6,669 NNN Expenses ($5.00/SF) $1,042 Monthly Cash Outflow $7,711 Monthly Ownership Cash Outflow 25-Year Fixed Blended Interest Rate (Estimate) 4.32% Mortgage Payment (Principal & Interest) $10,018 NNN Expenses ($500/SF) $1,042 Monthly Cash Outflow $11,060 Monthly Lease Benef Appreciation $0 Equity Build-Up $0 Depreciation (70% Imp. Value) $0 Interest Write-Off $0 Rent & NNN Expense Deduction ($2,545) Total Lease Benef ($2,545) Monthly Ownership Benef (estimates) Appreciation at 2% ($3,333) Equity Build-Up ($3,477) Depreciation Write-Off (70% Imp. Value) ($987) Interest Write-Off ($2,159) NNN Expense Deduction ($344) Total Ownership Benef ($10,300) Total Effective Monthly Cost $5,167 Total Effective Monthly Cost $760 Please be advised that this analysis is generalized does phone: factor (425) in many of the financial fax: (425) personal aspects one should take into account when electing to purchase real property. The potential purchaser must analyze this investment based upon own analysis, The information including, provided without has been limitations, obtained from sources own believed tax considerations reliable. While we do (including doubt current accuracy, we have future verified tax laws), make recapture no of depreciation, ultimate sales price market considerations. These items must be evaluated by a qualified CPA, attorney or other consultant when making the decision to purchase.

For additional information, contact: Caleb Farnworth, CCIM (425) 289-2235 calebf@rosenharbottle.com P.O.

com The information provided has been obtained from sources believed reliable.

6 For additional information, contact: Caleb Farnworth, CCIM (425) P.O. Box 5003 Bellevue, WA phone: (425) fax: (425) The information provided has been obtained from sources believed reliable. do doubt accuracy, we have verified make no The information provided in this package has been obtained from sources believed reliable. While we do doubt accuracy, we have verified make no guarantee, warranty or representation about it. It is your sole responsibility to independently confirm accuracy completeness.

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