Building For Sale 401 Rainier Ave N Renton WA Offering Memorandum

Transcription

1 Building For Sale 401 Rainier Ave N Renton WA Offering Memorandum

2 Please contact: Rich Cannon Pike St, Suite 1505 Seattle WA

3 Table of Contents Section 1: The Offering - Executive Summary - Highlights Section 2: Property Description - Property/Area Overview - Photos - Regional Map - Amenities Aerial Map - Nearby Major Developments - Transit Map Section 3: Demographics Section 4: Disclaimer

4 The Offering

5 Executive Summary Cannon Commercial is pleased to present an exciting opportunity to purchase the former Carquest Auto Parts Building located in Renton WA. This 11,242 sq. ft. building is located on a 38,200 sq. ft. lot. The CA (Commercial Arterial) zoned property offers great retail exposure and is a future mix used redevelopment site. The property is directly across the street from the Renton Airport and is located approximately 11.9 miles south of downtown Seattle, 11.4 miles from Bellevue and 7.2 miles from Seatac Airport. I-405 and I-90 are easily accessible. Highlights Sale Price: $2,100,000 The property is a great owner/ user, investment or development opportunity Located across the street from the Renton Municipal Airport Approximately 21,000 cars per day on Rainier Ave N. Great visibility - approximately 230 feet of frontage on main arterial Monument signage Ample parking Easy ingress/egress CA Zoning - Commercial Arterial Multiple bus routes connecting in and out of the city Building is also available for lease 25

6 Property Overview King County Tax Parcel : Building Size: 11,242 SF (Per KCR) Lot Size: 38,200 SF (Per KCR) Locality: City of Renton Zoning: CA - Commercial Arterial Redevelopment Potential: - Apartments and mixed-use - Variety of retail uses, including: grocery store, drug store, coffee shop, restaurant, and much more Built 1957, Eff. Year 1969 Construction Class: Masonry Heating System: Space heaters Sprinklers: No Configuration: Retail Space: Approx. 9,940 SF Mezzanine Office: Approx. 1,302 SF Open floor plan with 4 private offices, conference room and kitchenette Ceiling Height: Area Overview Centrally located at the south end of Lake Washington, Renton is only minutes away from Seattle, Bellevue and Seattle-Tacoma International Airport. As the fifth largest city in King County and the 11th largest in Washington, Renton is located at the center of an expansive regional and international transportation network, intersected by freeways, highways, surface and mass transit routes and minutes from air, sea and rail transportation hubs. Renton has a diverse marketplace, strong economic base, and a business climate that has attracted the attention of nationally recognized companies. Renton is most notably known as the home to The Boeing Company and PACCAR, both known and recognized worldwide as leading manufacturers in their fields. It is also the home of the Seattle Seahawks and Renton Municipal Airport. Renton s pro-business climate has provided a strong foundation for a multitude of new and existing businesses. New businesses are moving to Renton each year to provide an even greater variety of job opportunities and services. Commercial space space and housing in this community are considerably less expensive than the two closest business centers of Seattle and Bellevue and numerous new developments provide a greater range of choices. As one of the fastest growing communities in the Puget Sound area, businesses and families are choosing Renton for its affordability and location. New urban apartments and condominium projects as well as high-quality and affordable single-family subdivisions are sprouting through-out the region. 6 Currently a community of over 90,000 residents and growing, the City of Renton has had a dramatic population increase in the last decade with an unparalleled 82% growth!

7 7 Property Photos

8 8 Interior Photos

9 9 Regional Map

10 Amenities Map Subject Property 10

11 11 Nearby Development Projects

12 Transit Map Renton was the first city in King County to participate in Metro s suburban, hub-based transit system. The service makes it easier to make both regional and local suburban bus connections and provides significant additional service to Renton. In 2001 a transit center and 150-space park and ride was completed, providing a central hub for bus activity. Both Metro and Sound Transit ST Express busses provide frequent and convenient connections to Seattle, Belleue, South King County and beyond. Sounder Commuter Rail offers commuter rail service between Tacoma and downtown Seattle with stops in Puyallup, Sumner, Auburn, Kent, and Tukwila/Renton. 12

13 13 Demographics

14 Disclaimer This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers and establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Cannon Commercial has not made any investigation, and financial performance of the property, the size and square footage of the property and improvements, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however Cannon Commercial has not verified, and will not verify, any of the information contained herein, nor has Cannon Commercial conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. 14