4351/4440 Chennault Beach Rd Mukilteo, WA 98275
- Warehouses
- 125,282 SF
- 8.20 lot acres
Current Use by Public Records
- Warehouses
Property Details for 4351/4440 Chennault Beach Rd
- Lot size
- 8.20 lot acres
- Property size
- 125,282 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional Mukilteo, WA industrial park presents a compelling value-add investment opportunity. Encompassing 125,282 square feet across five buildings situated on 8.2 acres, the property boasts 100% occupancy with 36 tenants. The park features a diverse range of unit sizes, primarily between 1,200 and 4,000 square feet, catering to high demand for smaller industrial spaces. Built between 1976 and 2007, the buildings offer ceiling heights ranging from 14 to 20 feet, ample parking (254 spaces), and convenient access to major transportation arteries including Mukilteo Speedway, I-5, I-405, SR-526, and Hwy 99. The property benefits from a flexible LI (Light Industrial) zoning designation, allowing for a variety of uses. With a current NOI of $1,822,189 and an asking price of $26,000,000, this represents a 7.01% cap rate. The property includes approximately 70,000 square feet of paved yard with covered storage and is comprised of six tax parcels (APN: 00548700001600, 00441400004300, 00441400004400, 00441400004502, 00441400004600 & 00441400004700). Rent bumps are in place, further enhancing the investment potential. The location within a land-constrained market with rising construction costs ensures the property's long-term value and competitive advantage. Grade level and dock high loading doors are available. Two small units currently occupied by the seller will be vacated at closing.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mukilteo
- County
- Snohomish
- State
- Washington
- Longitude
- -122.292
- Latitude
- 47.8959
