For Sale
$3,876,000

17810 Canyon Rd Puyallup, WA 98446

High-growth, net-leased retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 3,500 square foot, single-tenant storefront in Puyallup, Washington, leased to Sherwin-Williams. The property, built in 2024, sits on a 0.64-acre lot and boasts a 100% occupancy rate with a lease commencement date of September 20, 2024, and an expiration date of August 1, 2034. The 10-year initial lease term includes three 5-year options, with a built-in 10% rent increase every five years, beginning in year six. The current Net Operating Income (NOI) is $213,195, resulting in a 5.50% cap rate. Located at 17810 Canyon Rd E, Tacoma, WA 98446, this property benefits from its position in a high-traffic area (approximately 65,000 vehicles per day) within the Frederickson Place center, a retail gateway to a major industrial development site in the Puget Sound area. The asking price is $3,876,000, translating to $1,107.43 per square foot. Common area expenses, paid by the landlord, average approximately $150 per month. This is a rare opportunity to acquire a strong, net-leased investment with a creditworthy tenant in a high-growth market. The property is part of a larger retail center and benefits from high visibility and accessibility.

Highlights

  • New construction, 3,500 SF Sherwin-Williams net-leased building.
  • 10-year initial lease term with three 5-year options; 10% rent increase every five years starting in year six.
  • Investment-grade tenant (Sherwin-Williams, BBB rated).
  • High-growth Seattle/Tacoma MSA suburban location; tax-free state.
  • 5.74% initial term blended cap rate; limited retail availability in this high-growth area.
  • Located at a high-traffic intersection (approx. 65,000 vehicles/day), gateway to a major industrial development.

Property Details for 17810 Canyon Rd

Property type
Retail properties, Retail space
Square Feet
3,500 SF
Year Built
2024
Stories
1
Lot Size (sq. ft)
27,878 SF
Units
1

Location Insight

City
Puyallup
County
Pierce
State
Washington
Latitude
47.09445395
Longitude
-122.35774856

FAQs

What type of property is this?
Retail property - High-growth, net-leased retail investment.
Where is the retail property located?
The property is located at 17810 Canyon Rd Puyallup, WA.
What is the asking price?
The asking price for this property is $3,876,000.
What are key features of this property?
This property features: New construction, 3,500 SF Sherwin-Williams net-leased building.; 10-year initial lease term with three 5-year options; 10% rent increase every five years starting in year six.; Investment-grade tenant (Sherwin-Williams, BBB rated).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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17810 Canyon Rd
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