ST AVE S BURIEN, WA 98168

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1 ST AVE S BURIEN, WA CONTACT INFORMATION: ELLEN MOHL SENIOR BROKER ellenmohl@westlakeassociates.com MATHEW QUACKENBUSH BROKER quack@westlakeassociates.com

2 OFFERING SUMMARY OVER 1 ACRE CORNER LOT SITUATED ON HIGH TRAFFIC 1ST AVE S IN BURIEN. IMMEDIATE RETURN WITH FULLY LEASED RETAIL, 7-11, AND SHELL. Price: $2,500,000 Price Per NRSF: $ Price Per Land SF $56.47 Cap Rate: 6.65% GRM: 13.7 Building Size: 2,197 7,200 Lot Size: 44,265 SF Year Built: 1962 High Visibility, income producing investment opportunity on 1st Ave S in Burien Washington and Shell are strong anchor retail uses, next to a fully leased strip retail building, located on large lot for immediate returns and potential long term development. Site is contiguous to Safeway anchored shopping center. Minutes from Sea-Tac. No expenses taken for management fees or reserves. Landlord pays water and sewer for multi tenant building. Tenants pay all other utlities, 7-11 pays R.E. taxes. ADDRESS st Ave S, Burien, WA PROPERTY HIGHLIGHTS STRONG ANCHOR IMMEDIATE 6.65% 65% CAP RATE HIGH VISIBILITY CLOSE TO MAJOR RETAIL LARGE CORNER LOT

3 PROPERTY DETAILS SALE PRICE $2,500, LOCATION INFORMATION Street Address st Ave S City, State, Zip Burien, WA County/Township Market Submarket Cross Streets BUILDING 1 Building Size King South King County Burien SW 146th St & 1st Ave S 2,197 SF Occupancy % 100% Tenancy Single Number Of Floors 1 Year Built 1962 Effective Year 1990 PROPERTY DETAILS Property Type Property Subtype Lot Size BUILDING 2 Building Size Retail Street Retail 44,265 SqFt 7,200 SF Occupancy 100% Tenancy Multiple Number Of Floors 2 Year Built 1962 Effective Year 1980

4 FINANCIAL OFFERING PROPERTY OVERVIEW Number of Units 6 Year Constructed 1962 Number of Buildings 2 Rentable SF 2,197 7,200 Lot Size 44,265 SF Zoning SPA-3 # UNITS AVG. SIZE CURRENT 6 1,342 SF $2,304 TOTAL 9,397 SF $13,824 INCOME CURRENT + Current Rental Income $183,379 Scheduled Gross Income $183,379 Effective Gross Income $183,379 PRICE ANALYSIS EXPENSES CURRENT PRICE $2,500,000 Price per NRSF $ Price per Land SF $ st Ave S Gas and Retail CAP 6.65% 1st Ave S Gas and Retail GRM 13.7 The statements, figures & computations herein, while not guaranteed, are secured from sources we believe reliable. Investors should verify all numbers, computations, and assumptions before committing to an investment. - Water Sewer (2016) Current - Taxes 2018 $10,326 - LID Insurance 2,646 - Water Sewer 3,806 Total Operating Expenses $17,234 CASH FLOW CURRENT Net Operating Income $166,145

5 FINANCIAL SUMMARY INVESTMENT OVERVIEW 1ST AVE S GAS AND RETAIL Price $2,500,000 Price per SF $ CAP Rate 6.65% Cash-on-Cash Return (yr 1) 6.65% Total Return (yr 1) $166,145 OPERATING DATA 1ST AVE S GAS AND RETAIL Gross Scheduled Income $183,379 Other Income $0 Total Scheduled Income $183,379 Vacancy Cost -$901 Gross Income $ Operating Expenses - No expenses taken for management fee or reserves. Landlord pays water and sewer, tenants pay all other utilities pays R.E. taxes. ($17,234) Net Operating Income $166,145 Pre-Tax Cash Flow $166,145

6 RENT ROLL TENANT NAME UNIT SIZE (SF) RENT INCREASES ANNUAL RENT PRICE PER SF/YR Seven-Eleven/Shell 2,197 3% Annual Increase $85,972 $20.25 Pho Lily 1,600 3% Annual Increase $30,848 $19.28 Lolys 1,000 3% Annual Increase $12,978 $12.98 house of hybrids 1,600* 3% Annual Increase $30, $19.27 W Golden Coins 800 $1,200 Annual Increase $16,200 $39.13 Visions Ink 600 $120 Annual Increase $8,100 $13.50 Storage 1,600 $0 $0.00 9,397 * Additional 7000 SqFt t Of f Outdoor Space

7 AMENITIES MAP

8 PROPERTY PHOTOS

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11 INTERIOR PHOTOS

12 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.

13 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

14 BROKER CONTACT MATHEW QUACKENBUSH Broker PROFESSIONAL BACKGROUND Mathew began his career as a research assistant at Westlake Associates, Inc. in the summer of Upon earning his Bachelor s Degree from University of the Pacific, Mathew returned to Seattle where he joined the Westlake team as a Broker in the fall of Mathew specializes in assisting his clients with the acquisition and sale of commercial investment properties throughout King and Snohomish counties. His attention to detail and committed work ethic make him an asset to anyone he works with. As a Seattle native, Mathew has an extensive knowledge of in-city and territory neighborhood markets. EDUCATION University of the Pacific, BA Westlake Ave N, Suite 310 Seattle, WA T quack@westlakeassociates.com