Renovated Retail Strip
New
For Sale
Contact for pricing
16421 Cleveland St, Redmond, WA 98052
Five food-and-beverage businesses occupy the center, including Shake Shack and Sweetgreen.
Property SizeContact for details
Days on Market7
Property Features for 16421 Cleveland St
General Information
Standard status
Active
Property subtype
RETAIL
Occupancy
100%
Net Operating Income
$724,956
Financials
Asking Price
$19,300,000
Cap Rate
3.76%
Additional Details
Sprinkler System
Yes
Tenant in Place
Yes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
JSH Properties, Inc.
(425) 455-0500
Listed By:
Jacob Morgan
(206) 550-2515
Source:
Moodyscre
Added: Oct 23
Changed: Oct 28
Last Checked: Oct 28 at 3:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JSH Properties, Inc.
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Investment Insights
Based on property information with market context.
This five-tenant retail property in Redmond is fully occupied by Shake Shack, Sweetgreen, Joe & The Juice, Yukon Standup Steakhouse, and 45th Stop N Shop. A comprehensive renovation replaced the HVAC, roof, electrical systems, and fire suppression equipment, and added structural shear walls. Four tenants have 10-year corporate-guaranteed leases. The property is offered with fee simple ownership and a 3.76% cap rate.
The center is positioned at the entrance to a Sound Transit 2 Line station in Downtown Redmond. Redmond Town Center is across the street, and five Microsoft office buildings are within half a block. The surrounding area also includes Microsoft’s world headquarters, three Amazon offices, CrowdStrike headquarters, and four hotels with a combined 779 rooms.
The center is positioned at the entrance to a Sound Transit 2 Line station in Downtown Redmond. Redmond Town Center is across the street, and five Microsoft office buildings are within half a block. The surrounding area also includes Microsoft’s world headquarters, three Amazon offices, CrowdStrike headquarters, and four hotels with a combined 779 rooms.
Key Highlights
- Fully occupied by five food‑and‑beverage tenants
- Tenants include Shake Shack, Sweetgreen, Joe & The Juice, Yukon Standup Steakhouse, and 45th Stop N Shop
- Four of five tenants have full 10‑year corporate‑guaranteed leases
Property Analytics
Who owns this building?
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,199
Businesses Nearby
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Business Placement
Demographics for 98052, WA
77,176
Population
34,946
Households
2.2
Avg Household Size
34
Median Age
75%
College-Educated
98%
High-School Grad
20.3 sq mi
ZIP Area
3,802
Density / Sq Mi
$164,848
Median Household Income
$106,078
Median Earnings
$2,339
Median Rent
$1,107,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Strip mall - Five food-and-beverage businesses occupy the center, including Shake Shack and Sweetgreen.
Where is this strip mall located?
The property is located at 16421 Cleveland St Redmond, WA.
What is the asking price?
The asking price for this property is $19,300,000.
What are key features of this property?
This property features: Fully occupied by five food‑and‑beverage tenants; Tenants include Shake Shack, Sweetgreen, Joe & The Juice, Yukon Standup Steakhouse, and 45th Stop N Shop; Four of five tenants have full 10‑year corporate‑guaranteed leases
