903 Douglas Munro Blvd Cle Elum, WA 98922
- Retail properties
- 2,162 SF
- 0.77 lot acres
Current Use by Public Records
- Retail properties
Property Details for 903 Douglas Munro Blvd
- Year built
- 2024
- Lot size
- 0.77 lot acres
- Property size
- 2,162 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, 2,162 square foot Starbucks located at 903 Douglas Munro Blvd in Cle Elum, Washington. Built in 2024, this Class A, single-tenant property sits on a 0.77-acre lot and boasts 26 parking spaces. The property benefits from a strategically advantageous location directly at the I-90 on/off-ramp, a major thoroughfare connecting Seattle, Spokane, and the Tri-Cities. This prime location ensures high visibility and accessibility for motorists. The lease is a Net Lease (NNN) with Starbucks, a globally recognized brand offering investment-grade credit, and has a remaining term of approximately 9.4 years, expiring April 30, 2034. The lease includes a 10% rent increase every five years, providing built-in growth potential. The property currently enjoys 100% occupancy, generating a strong Net Operating Income (NOI) of $154,000, resulting in an attractive 5.25% capitalization rate. The property's proximity to a high-performing Safeway and fuel station further underscores the strength of this location. With limited comparable drive-thru options within a 30-minute radius, this Starbucks represents a rare and highly desirable investment asset in a thriving market. The APN is 963067. This is a turnkey investment with significant long-term growth potential. The asking price is $2,933,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cle Elum
- County
- Kittitas
- State
- Washington
- Longitude
- -120.957
- Latitude
- 47.1964
