1100 Harrison AveCentralia, WA 98531

Property Details for 1100 Harrison Ave

Year built

1981

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.03 AC

Property size (Sq ft)

4,225 SF

Property type

Banks

APN

2918008002

APU

2918008002

Description

This exceptional investment opportunity presents a single-tenant, net-leased Starbucks located at 1100 Harrison Ave, Centralia, WA 98531. The property boasts a 2,400 square foot building on a single story, constructed in 2022 and featuring a convenient drive-thru. This Class B retail property is situated on a prime location just off Interstate 5, benefiting from high visibility and accessibility. The Starbucks lease commenced April 1, 2022, with a remaining term of approximately 7.4 years, extending to March 31, 2032. The lease includes four options to renew and features a 10% rent increase every five years, providing consistent rental growth. The property offers 33 parking spaces and is zoned C2. The tenant, Starbucks, is credit-rated (BBB+), offering investment-grade security. With a Net Operating Income (NOI) of $140,000 and an asking price of $3,043,500, this property presents a compelling 4.60% cap rate. The property's strong location benefits from proximity to major transportation arteries and a robust tenant mix, including Safeway and Centralia Factory Outlets. This is a rare opportunity to acquire a high-performing, investment-grade Starbucks in a desirable location.

Location Insight

City

Centralia

County

Lewis

State

Washington

Latitude

46.7291

Longitude

-122.98

CBSA code

16500

CBSA name

CENTRALIA, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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