Property profile

0 Tjerne Pl Monroe, WA 98272

OFF-MARKET
Mixed-use properties
11.04 ac lot
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Property summary

AI-generated overview

This exceptional 11.04-acre development site in Monroe, Washington, presents a unique opportunity for mixed-use construction. Located in a well-established commercial district with convenient access to US Highway 2, this property offers significant potential for both commercial and residential development. A new mixed-use overlay allows for the construction of a five-story building, maximizing development density and return on investment. A conceptual site plan illustrates the potential for a substantial development, encompassing approximately 231,195 square feet of mixed-use space and 54,022 square feet of retail space. The site's strategic location within the North Kelsey area, a sector identified by the city for future commercial growth, ensures strong future prospects. The city's recent revision of development plans for Tjerne Place further underscores its commitment to supporting new construction in this area. This property offers flexibility, with the ability to be sold as a whole or divided into smaller parcels to suit individual development needs. This is a rare opportunity to acquire a large, strategically located parcel in a thriving Washington community, ready for immediate development. The property is zoned for mixed-use development and offers direct access to US Highway 2, providing excellent visibility and accessibility. This prime location offers unparalleled potential for a variety of development projects, from residential apartments to commercial retail spaces. Don't miss this chance to capitalize on this exceptional development opportunity.

Property profile

Verified
Property type Mixed-use properties
Lot 11.04 ac (480,902 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Tjerne Pl Monroe, WA 98272
Monroe metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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