Verizon Wireless NNN Property For Sale — Puyallup, WA
10917 Canyon Rd E, Puyallup, WA 98373
'''''This 100% occupied retail center is shadow-anchored by a successful grocery store and features a recently extended 5-year lease with Verizon Wireless, demonstrating their continued commitment to the location. The property was renovated in 2024 and boasts high-quality finishes. Situated in an affluent submarket of Seattle/Tacoma, it benefits from strong demographics including a population of over 8,000 residents within a 5-mile radius and average household incomes exceeding $93,000. The area has experienced significant population growth and rising rents, with a low vacancy rate of 3.3% creating a high barrier to entry for new retail development. Additionally, there's an opportunity to significantly increase net operating income (NOI) by adjusting a Crown Castle easement to market rate…
- Address: 10917 Canyon Rd E, Puyallup, WA 98373
- Asking price $4.16M
- 6.50% cap rate
- NOI $270,400
- 3.2 years remaining
- NNN lease
- Year built: 1985
- Building size: 9,830 SF
- Lot size: 0.92 acres
- Lease expiration: Nov 30, 2029
- Rent increases: N/A
- Guarantor: Corporate
Location
This Verizon Wireless property is at 10917 Canyon Rd E in Puyallup, Washington.
Asset type: Retail