Pure NNN Corporate Guaranteed 35-Year Occupied Grocery Building

121 W Walnut St Newport, WA 99156

121 W Walnut St, Newport, WA, 99156
121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156 121 W Walnut St, Newport, WA, 99156
FOR SALE
Property Type:
Power Center
Amount:
$2,300,000
Last Verified:
Nov 29, 2017

Highlights

  • Absolute-Net Ground Lease w/ Zero Landlord Responsibility
  • National Tenant that has Occupied the Property for Over 35 Years
  • Tenant Has Recently Re-Invested Into An Extensive Remodel
  • Tenant Recently Added A 12-Pump Fuel Station w/ C-Store
  • Safeway Corporate Guarantee w/ Big Upside in Rents at End of Options
  • Currently in 4th of 7th Five-Year Renewal Periods To 11/4/2035
  • Currently Listed BELOW tax assessment of $2.9M

Description

Absolute NNN Zero Landlord Responsibility Corporate Guaranteed Grocery Building with Existing Fuel Station dba Safeway in Newport, WA. This safe and secure deal houses a corporate tenant on only $2.95/SF/YEAR rents, making them an extremely profitable and lucrative location. Long term 35-Year occupied building with various recent tenant improvements including a newly remodeled interior, freshly updated exterior, newer fuel station/convenience store addition, and a pristine exterior with lush landscaping and like-new asphalt. The Property Sits on a huge 2.197 Acre Lot and is Conveniently located near the center of town. With 18 years left in the options through November 2035, this property will experience a dramatic increase in NOI with market rent. This is a great opportunity for a long term investor looking for a corporate guarantee and a Tenant who pays expenses direct.

The Safeway (Albertson’s) investment offers an investor the second largest grocery producer located in a regional retail area of Bakersfield, California with surrounding tenants like Starbucks, McDonald' s, FedEx, The Walden House Inn, and Idaho Hill Grade School.

Safeway is located adjacent to the border of Washington and Idaho outside of Spokane in the County of Pend Oreille. In business since 1980, this location is close to a river and major roads, providing convenient access to locals who stop at Safeway before heading to the mountains and rivers. This property is located north of Pine Street, east of N Union Avenue, south of W Walnut Street and west of N State Avenue in Newport, Washington. Surrounding Retailers include Starbucks, McDonald' s, FedEx, The Walden House Inn, and Idaho Hill Grade School.


Year Built: 1980
Building Size: 40546.0sq ft
Lot Size: 2.2 acres

Map of 121 W Walnut St, Newport, WA, 99156

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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