1102 28th Avenue Ct, Milton, WA 98354

$1,750,000

Listing courtesy of Windermere R.E. Northeast, Inc.

List Price
$1,750,000
Status
ACTIVE
MLS#
2192087
Days on Market
7
Annual Tax Ammount
802

Property Description

Exceptional high visibility investment property in rapidly developing Milton location. Striking new construction drive through coffee stand offers fabulous curb appeal & long-term lease to popular Gravity Coffee tenant. Guaranteed 5-year lease generates excellent cash flow for future owner with base rent of $8,500/mo + NNN expenses. Tenant pays all utilities directly with option to exercise 4 additional lease extension periods of 5 years each. Lease extensions feature automatic base rent increases of 12.5% per extension. Desirable 11,613 SF level corner lot provides excellent traffic counts & 6 dedicated parking spaces. Incredible opportunity to own a brand new turnkey investment property with steady rental income in a fabulous location.

Additional Information

Community
Surprise Lake
Style
75 - Retail
Year Built
2023
# of Assigned Spaces
6
Roof
Metal
Tax Year
2023
Potential Terms
Cash Out, Conventional
Interior Features
Concrete
Flooring
Concrete
Driving Directions
GPS Compliant. Please map address 1102 28th Avenue Ct, Milton, WA 98354.
Energy Source
Electric, Natural Gas
Buyer Agency Compensation
2.5
Net Operating Income
$102,000
Gross Adjusted Income
$102,000
Gross Scheduled Income
$102,000
Cap Rate
6
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