Enumclaw Retail Investment
911 Griffin Ave, Enumclaw, WA 98022
For Sale
Contact for pricing
NN leased Tractor Supply Co. investment property for sale.
Property Size22,016 SF
Price / SF$404.48
Days on Market229
Property Features for 911 Griffin Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Calvin Short · License WA #01927216
Source:
Crexi
Added: Mar 27
Changed: Oct 26
Last Checked: Nov 10 at 7:16AM
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 SRS Real Estate Partners Newport Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a fee simple interest in a NN leased Tractor Supply Co. investment property in Enumclaw, Washington. The corporate entity recently signed a 15-year lease with options to extend at the close of escrow. The lease includes 5% scheduled rental increases throughout the initial term and at the beginning of each option period. The lease is NN with limited landlord responsibilities. Tractor Supply Company has more than 2,400 locations across the U.S. and maintains strong financial performance with a national average unit volume of approximately $6.5MM. The property is located near the signalized, hard-corner intersection of Griffin Avenue and 1st Street, with a combined average of over 29,000 vehicles passing by daily. Griffin Avenue serves as Enumclaw’s primary commercial thoroughfare and is home to a dense concentration of national/credit tenants including Safeway, Grocery Outlet, Walgreens, Verizon, Starbucks, Taco Bell, Dollar Tree, O’Reilly Auto Parts, Les Schwab, AutoZone, and McDonald’s. The 15-mile trade area is supported by strong residential growth, solid household incomes, and a diverse employment base. Residents within 5 miles of the subject property benefit from convenient access to the city’s primary retail corridor and daily-needs destinations. The property size is 22,016 square feet.
Key Highlights
- NN Lease with Limited Landlord Responsibilities: Ideal for passive investors.
- Long‑Term 15‑Year Lease with Options: Provides stable income.
- Scheduled Rental Increases: 5% increases throughout the term.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$393,836
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,876,720
$7.9M
Cap Rate 7%
$5,626,229
$5.6M
Cap Rate 9%
$4,375,956
$4.4M
Market Conditions
NOI Build-Up for 22,016 SF
Gross rent
$581.2K $26.40/SF
− Vacancy
−$18.6K −$0.84/SF
EGI
$562.6K $25.56/SF
− OpEx
−$168.8K −$7.67/SF
NOI
$393.8K $17.89/SF
Area
King County, WA
Vacancy
3.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,876,720
Cap Rate 7%
$5,626,229
Cap Rate 9%
$4,375,956
Alternative Uses
Best Use
Retail
$5.63M
$4.92M – $6.56M
NOI $393,836 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$7.51M
$6.57M – $8.76M
NOI $525,745 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 98022, WA
22,874
Population
9,828
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
726.5 sq mi
ZIP Area
31
Density / Sq Mi
$116,613
Median Household Income
$59,360
Median Earnings
$1,626
Median Rent
$577,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in King County, WA
Properties on Market for Retail space in King County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - NN leased Tractor Supply Co. investment property for sale.
Where is this retail space located?
The property is located at 911 Griffin Ave Enumclaw, WA.
What is the asking price?
The asking price for this property is $8,905,000.
What are key features of this property?
This property features: NN Lease with Limited Landlord Responsibilities: Ideal for passive investors.; Long‑Term 15‑Year Lease with Options: Provides stable income.; Scheduled Rental Increases: 5% increases throughout the term.
