221 State Ave Marysville, WA 98270

Property Details for 221 State Ave

Year built

1977

Lot size

0.11 lot acres

Property size

6,853 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,853 square foot, multi-tenant retail center located at 221 State Ave, Marysville, WA 98270. The property, built in 1977, is situated on a 0.11-acre lot and boasts 100% occupancy with four tenants: Verizon Wireless, Edward Jones, Reboot Combat Recovery, and PacWeezy Barbershop. Verizon, a credit-rated tenant, occupies 20% of the gross leasable area (GLA) and recently signed a new 5-year lease extension after over 12 years of tenancy. All tenants operate under triple net (NNN) leases, protecting the owner from rising operating expenses. The property benefits from its strategic location at the hard corner of Fourth and State Streets, providing excellent visibility and accessibility with direct access to I-5 ramps. It's part of the Albertsons-anchored Marysville Town Center, a thriving daily-needs retail center also featuring Big Lots, Staples, Burlington, and Daiso. The center enjoys high traffic due to its strong anchor tenants and location within the rapidly growing Marysville-Arlington trade area, the second-largest city in Snohomish County, with an average household income exceeding $123,000 within a 3-mile radius. The asking price is $2,300,000, representing a 5.50% cap rate and a pro-forma cap rate of 7.10%. Ample parking is available with 850 spaces. The property offers significant upside potential with the lease-up of a remaining 2,115 square foot vacancy. This is a stabilized investment with a strong tenant mix and excellent growth prospects.

Location Insight

City

Marysville

County

Snohomish

State

Washington

Longitude

-122.177

Latitude

48.0509