Description
+ RARE “VALUE-ADD” INVESTMENT OPPORTUNITYCurrent rents of $1.12/sf are significantly below market rents of $1.40- $1.50 for similar spaces in the area, creating significant rental upside for an investor. Both lease renewals in 2029 have the rent set at Fair Market Value.+ PRICE BELOW ASSESSED VALUE (LOW COST-BASIS)The price/sf of the offering at list price is only $260/sf, well below the market price/sf of $300-$400/sf for similar sized industrial buildings in the area. In addition, the list price of $1,900,000 is $200K lower than the current tax assessed value of ~$2,100,000.+ IDEAL “CLOSE-IN” SEATTLE LOCATIONSituated in the highly sought after Georgetown industrial market.