Multi-Building Warehouse with
4351 Chennault Beach Rd Mukilteo, WA 98275
New
For Sale
$26,000,000
Five-building industrial campus with substantial storage and an outdoor yard for warehousing and distribution uses.
Property Size125,282 SF
Price / SF$207.53
Days on Market2
Property Features for 4351 Chennault Beach Rd
General Information
Standard status
Active
Size
125,282 SF
Property subtype
Industrial
Listing Agency:
Bellevue
(425) 453-3127
Listed By:
Talor Okada
(425) 453-3127
Source:
Colliers
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 2:32AM
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 Bellevue
Investment Insights
Based on property information with market context.
This multi-building warehouse campus consists of five buildings with a total offering size of 125,282 SF building area. The property also includes approximately ±3,520 SF of storage and approximately ±70,000 SF of yard area, supporting warehousing, staging, and distribution operations.
The five buildings are located at 4351 and 4440 Chennault Beach Road, and 4403, 4433, 4463, and 4493 Russell Road in Mukilteo, WA 98275, within the South Everett/Mukilteo Industrial market.
With large-scale industrial vacancy primarily comprised of big box vacancies over 50,000 square feet in the broader market, this type of setup can be useful for operators seeking space that supports distribution needs and flexible outdoor operations.
The five buildings are located at 4351 and 4440 Chennault Beach Road, and 4403, 4433, 4463, and 4493 Russell Road in Mukilteo, WA 98275, within the South Everett/Mukilteo Industrial market.
With large-scale industrial vacancy primarily comprised of big box vacancies over 50,000 square feet in the broader market, this type of setup can be useful for operators seeking space that supports distribution needs and flexible outdoor operations.
Key Highlights
- 125,282 SF total building area across five buildings
- ±70,000 SF yard area for staging and outdoor operations
- ±3,520 SF storage included in the offering
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.00M | $15.96 |
| − Vacancy | −$136.0k | −$1.09 |
| EGI | $1.86M | $14.87 |
| − OpEx | −$279.5k | −$2.23 |
| NOI | $1.58M | $12.64 |
125,282 SF · lease $15.96/SF/yr · vacancy 6.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$22.63M
$19.80M – $26.40M
NOI $1,584,004 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$34.94M
$30.57M – $40.76M
NOI $2,445,729 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Safe Harbour Storage — 12118 Cyrus Way, Mukilteo, WA 98275
- Pack Rat Mini Storage — 12320 Mukilteo Speedway, Mukilteo, WA 98275
- Fishermen's Finest MUK — 4493 Russell Rd Ste. H, Mukilteo, WA 98275
- Money Saver Mini Storage — 12025 Mukilteo Speedway, Mukilteo, WA 98275
Frequently Asked Questions
What type of property is this?
Warehouse - Five-building industrial campus with substantial storage and an outdoor yard for warehousing and distribution uses.
Where is this warehouse located?
The property is located at 4351 Chennault Beach Rd Mukilteo, WA.
What is the asking price?
The asking price for this property is $26,000,000.
What are key features of this property?
This property features: 125,282 SF total building area across five buildings; ±70,000 SF yard area for staging and outdoor operations; ±3,520 SF storage included in the offering
