Key Peninsula Hwy Gig Harbor, WA 98329

Property Details for 0 Key Peninsula Hwy

Year built

2002

Property type

Commercial real estate

Description

This exceptional opportunity presents a thriving, established auto repair business in Gig Harbor, Washington. Located on a 2.47-acre lot (107,593 sq ft) at 9707 Key Peninsula Hwy NW, 98329, this six-bay center has been successfully operating for over 17 years. The business boasts a strong financial performance, generating a Net Operating Income (NOI) of $284,484, resulting in a remarkable 33.47% capitalization rate. The asking price for the business is $849,990. The current lease is a Triple Net (NNN) agreement at $5,000 per month, negotiable with the seller. The property includes a fully stocked building, extensive inventory of tools (a detailed list is available), and a fenced area accommodating up to 50 vehicles. Additional features include dual drive-through entries and a wired security system. Financial records indicate a gross income of $1,376,161. The property was built in 2002 and has the APN 0022364007. Significant growth potential exists through extended business hours and operational enhancements. The seller is open to discussing SBA loan options. Showings are by appointment only, after 3 PM, and cannot be conducted during business hours.

Location Insight

City

Gig Harbor

County

Pierce

State

Washington

Longitude

-122.738

Latitude

47.3491