Meridian Place | 100% Occupied NNN Retail Center w/… — Sale in Kent, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Kent, WA 98042
  • Year built: 1985

Photos

Meridian Place | 100% Occupied NNN Retail Center w/… — Sale in Kent, WA, photo 1 of 2
Meridian Place | 100% Occupied NNN Retail Center w/… — Sale in Kent, WA, photo 2 of 2

Investment Figures

Cap rate
6.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale Meridian Place, a 100% occupied NNN retail center in Kent, Washington (Seattle-Tacoma MSA). The property is leased to 15 tenants spanning retail, medical, professional services, and education, with all leases featuring annual rent increases of 2.50%–3.50% and NNN structures with management fee reimbursement. Over 54% of GLA is leased by tenants in place more than five years and 40%+ for more than eight, demonstrating strong long-term retention. Situated on the signalized hard corner of SE 240th St and 132nd Ave SE with 43,200+ VPD, the property is embedded within a residential pocket of 3,500+ homes within one mile, providing tenants a neighborhood-serving location with limited nearby competition. Within five miles, the property serves a population of 227,000+ residents with average household incomes exceeding $128,000. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • 100% Occupied Retail Center w/ Diverse Tenant Mix • NNN Leases w/ Minimal Landlord Responsibilities • Attractive Annual Rent Increases • High-Traffic Signalized Hard Corner (43,200+ VPD) • Strategic Neighborhood Location • Strong Historical Occupancy • Dense, Affluent Demographics • Income Tax-Free State

Market Context

This retail in Kent, WA is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1985. Compare it against other retail listings for sale in Kent, WA — view the full market.

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