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Listing ID: 1857437
Sold For: $10,000,000
Status: Closed
Address: 6955 Salashan Parkway
City: Ferndale
State: Washington
Postal Code: 98248
SqFt: 103,500
Acres: 7
County: Whatcom
Ferndale
WA
98248
6.25% cap rate with 5% vacancy credit loss on an Absolute Net Lease. 5-year renewal just executed with first year rate established at $54,167 per month with annual bumps. Lease includes 2 additional 5-year lease renewal options at market rent. Strong international tenant with excellent rent history. Two buildings, 100k sq ft combined, side by side on 7 acres in North Ferndale. 1 - 40k sq ft and 1 - 60k sq ft fully sprinkled steel buildings that include a mix of grade and dock high doors. Coupon Clipper offered at below replacement cost.

Primary Features

County: Whatcom
Property Sub Type: Commercial Industrial
Property Type: Commercial Sale
Subdivision: Ferndale
Year Built: 1998

Interior

Building Area Units: Square Feet
Furnished: Unfurnished
Living Area Units: Square Feet

External

Elevation Units: Feet
Lot Size Square Feet: 304920
Lot Size Units: Square Feet
MLS Lot Size Source: Realist
Sewer: Septic Tank
Structure Type: Industrial
Style Code: 71 - Light Indrl.
Utilities: Septic System, Electricity Available, Natural Gas Connected
Water Source: Public

Location

Country: US
MLS Area Major: 870 - Ferndale/Custer
Zoning Class: Industrial-Light
Zoning Jurisdiction: County

Additional

First Right Of Refusal: no
Free And Clear: true
Mls Status: Sold
Offers: Seller intends to review offers upon receipt
Possible Use: Industrial
Power Production Type: Electric, Natural Gas
Preliminary Title Ordered: yes

Financial

Buyer Financing: Conventional
Cap Rate: 6.58
Gross Adjusted Income: 650000
Gross Scheduled Income: 650000
Net Operating Income: 650000
Possession: Tenant's Rights
Sale Type: MLS
Seller Disclosure: Not Provided
Special Listing Conditions: None

Zoning Info


Area Info


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Closed Listing courtesy of Pacific Continental Realty LLC
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Closed Listing courtesy of Pacific Continental Realty LLC

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