4001 ALDERWOOD MALL BLVD 160,000 VPD

[Pages:23]Alderwood Mall Blvd

160,000 VPD

4001 ALDERWOOD MALL BLVD 40th Ave W

OFFERING MEMORANDUM

Lynnwood, WA

LYNNWOOD CORE INVESTMENT & OWNER/USER OPPORTUNITY

LYNWOOD CORE INVESTMENT & OWNER/USER OPPORTUNITY

Table of Contents

01

Executive Summary

The Offering Investment Highlights Property Summary Property Aerial Retail Aerial Site Plan

02

Financial Analysis

Pricing Summary Chase Lease Abstract

03 Tenant Profile

04

Location & Market Overview

Site Overview Location Map Demographics Zoning Info Basic Development Standards Lynnwood Link Extension

Contact Information

Erik Swanson eswanson@ 206.296.9628

Mike King mking@ 206.296.9624

Corey Sollom csollom@ 206.296.9620

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, current or past tax payments, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.



5,165 SF Leased by Chase 5,070 SF Available

LYNWOOD CORE INVESTMENT & OWNER/USER OPPORTUNITY

01

Executive Summary

The Offering Investment Highlights

Property Summary Property Aerial Retail Aerial Site Plan

Executive Summary

THE OFFERING

This offering provides an investor or owner/user the opportunity to acquire a strategically located retail property anchored by a stand alone drive through Chase Bank. Located in Lynnwood, Washington approximately 17 miles north of Seattle, this property is positioned in a dense retail sub-market that includes many national retailers.

Situated at the intersection of Alderwood Mall Parkway and 40th Avenue West in Lynnwood, Washington, the property is comprised of a 5,165 square foot stand alone Chase Bank and a 5,070 square foot retail building currently occupied by a furniture store and a dentist on a month-to-month basis.

The Chase Bank building includes a two lane drive through. Originally a Washington Mutual branch, this property has continuously operated as a bank since 1981. Chase recently extended their NNN lease for an additional 5 years through June 2020.

This 0.86 acre site is prominently visible to more than 160,000 passing vehicles on Interstate 5. It is zoned City Center Core which includes a high-rise capable height limit of up to 350 feet and a FAR of 10 with incentive zoning. Less than a block away, construction is scheduled to begin in 2018 on the Lynnwood Link Extension for light rail between Seattle and Lynnwood. The rider projections are estimated between 63,000 - 74,000 riders each weekday by 2035. Today, more than 15,000 cars pass directly by this property every day on Alderwood Mall Parkway and 40th Avenue West.

Investment Summary

Offering Price $2,625,000

Price per SF

Available SF Owner/User

$266 5,070

Land SF

37,462

LYNNWOOD RETAIL INVESTMENT

KIDDER MATHEWS | OFFERING MEMORANDUM 4

LYNNWOOD RETAIL INVESTMENT

INVESTMENT HIGHLIGHTS

5,070 SF

AVAILABLE FOR OWNER/USER OR NEW TENANT

160,000 CPD

VISIBILITY TO PASSING CARS ON I-5

Long Term Upside Owner user or investment site with long term redevelopment upside.

Strong Credit Tenant Anchor Passive income from Chase Bank provides reliable cash flow for owner.

Excellent Visibility on Signalized Hard Corner Prominent location with exposure to 160,000 vehicles per day on Interstate 5.

Future Transit Oriented Development Potential Walking distance to Lynnwood park and ride and future light rail station.

Favorable Zoning Existing drive through location. Core Commercial zoning allows for multi-story development.

Strong Demographics Over 133,000 people within 3 miles with above average population and household growth rate of 7%.

KIDDER MATHEWS | OFFERING MEMORANDUM 5

PROPERTY SUMMARY

Address

4001 Alderwood Mall Blvd, Lynnwood, WA 98036

County

Snohomish

Gross Leaseable Area Chase Bldg - 5,165 SF; Owner/User Bldg - 5,070 SF

Land Area

0.86 Acre

Year Built

1981

Parking Signage Access Frontage

LYNNWOOD RETAIL INVESTMENT

?48 Spaces Pylon & Building Signs 2 Ingress/Egress Driveways 200'+ on 40th Ave W | 165'+ on Alderwood Mall Blvd

KIDDER MATHEWS | OFFERING MEMORANDUM 6

44th Ave W 40th Ave W

SOUND TRANSIT LYNNWOOD LINK EXTENSION PLANNED FOR 2023

4001 ALDERWOOD MALL BLVD

Alderwood Mall Blvd

160,000 VPD

PARK & RIDE / LYNNWOOD TRANSIT CENTER

LYNNWOOD RETAIL INVESTMENT

KIDDER MATHEWS | OFFERING MEMORANDUM 7

44th Ave W Alderwood Mall Pkwy

ALDERWOOD MALL

PARK & RIDE / LYNNWOOD TRANSIT CENTER

DANIA

4001 ALDERWOOD MALL BLVD

LYNNWOOD RETAIL INVESTMENT

164th St SW

KIDDER MATHEWS | OFFERING MEMORANDUM 8

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