Edmonds Central Plaza

FOR SALE > RETAIL INVESTMENT OPPORTUNITYEdmonds Central PlazaAURORA MARKET PLACE23830 HIGHWAY 99, EDMONDS, WASHINGTON 9802699EdmondsCentral Plaza104AURORA VILLAGE10499FOR SALE > RETAIL INVESTMENT OPPORTUNITYEdmonds Central Plaza23830 Highway 99, Edmonds, Washington 98026PAUL SLEETHSenior Vice President+1 206 223 1266paul.sleeth@colliers.comBILLY SLEETHVice President+1 206 654 0522billy.sleeth@colliers.comCOLLIERS INTERNATIONAL601 Union St., Suite 5300Seattle, WA 98101www.colliers.com

FOR SALE > RETAIL INVESTMENT OPPORTUNITYEdmonds Central Plaza23830 HIGHWAY 99, EDMONDS, WASHINGTON 98026Excellent LocationThe property is located on Highway 99, two blocks from theHighway 99 and Highway 104 interchange. Highway 99 is themajor north-south highway connecting Edmonds to Lynnwood,Everet and Seattle. Highway 104 connects the majority ofthe Edmonds residential neighborhoods to Highway 99 andInterstate-5.Price Approaching Land ValueThe asking price is equivalent to $41.20/SF of the land, creatinga rare opportunity to purchase the asset at land value with anattractive in-place yield.Strong Retail CorridorThe property is located in a strong retail corridor acrossthe street from the Safeway and TJ Maxx anchored AuroraMarketplace and three blocks from the Costco and Home Depotanchored Aurora Village. Additional tenants in the trade areainclude OfficeMax, Petco, Big 5, Burlington Coat Factory, DollarTree, 99 Ranch Market and Rite Aid.Priced Below Replacement CostThe asking price of $107/SF is well below replacement cost.Potential Future Re-Development SiteThis is a rare opportunity to acquire a retail parcel with 84,942square feet of land in the city of Edmonds, just north of Seattle.It is extremely difficult to find a parcel of this size and qualityalong the close-in Aurora corridor, creating an opportunity tore-develop the site in the future.UpsideThere are 16,416 square feet of vacant space available, providingadditional income upon stabilization.Excellent Access & VisibilityThe center has excellent access and visibility from Highway99 and 238th St. The center is located at a fully signalizedintersection with access points on Highway 99 and 238thSt. Daily traffic counts are over 39,800 cars per day at theintersection.Rental IncreasesSeven of the fifteen tenants have annual rental increasesproviding favorable NOI growth.High Density Trade AreaEdmonds Central Plaza benefits from strong demographics witha population of over 17,000, 122,000 and 245,000 people in the1, 3, and 5 mile rings. Incomes are in excess of $72,000 in the 1mile ring and $80,000 in the 3 and 5 mile rings.Tenants Cater to the Trade AreaEdmonds Central Plaza caters to its trade area with the propertenant mix, allowing the tenants and the center to be successful.Located in a Seattle SuburbThe center is located in a suburb of Seattle in close proximity,and with direct access to the Puget Sound’s major economiccenters. Edmonds Central Plaza lies just 11 miles north ofDowntown Seattle and 18 miles from Downtown Bellevue.

9910499EdmondsCentral Plaza10455

FOR SALE > RETAIL INVESTMENT OPPORTUNITYEdmonds Central Plaza23830 HIGHWAY 99, EDMONDS, WASHINGTON 98026BUILDING B (SINGLE STORY)Ste 121 China Spa Ste 119Building ABeehiveEspressoBuilding BBUILDING A - FLOOR 1Ste 106Olympic BilliardsHossoonyi RestaurantSUITE TENANT SF100A Ledo Nails Salon 676YoungFashionBUILDING A - FLOOR 2Ste 101Song GioHairSalonLedoNailsAsian PhoSte 116ASte 107Giftland100B Song Gio Hair 624102 Young Fashion 780105 Olympic Billiards 3,800114 Hosoonyi Restaurant 2,501115 Asian Pho 1,370116B Gift Land 640117 Verizon Wireless (Cellular Town) 640118 Pizza Hut 1,200KoreanCommunityServiceCenterSte 205Ste 203Ste 202Ste 200119A Beehive Espresso 250120 China Spa 1,350121 Stars in the Sky* 2,066206B Korean Community Service Center 467Ste 208Available Space 16,416TOTALS 32,780

FOR SALE > RETAIL INVESTMENT OPPORTUNITYEdmonds Central Plaza23830 HIGHWAY 99, EDMONDS, WASHINGTON 98026Financials:As-Is Year-1Net Operating Income $ 261,534Price $ 3,500,000As-Is Cap Rate 7.5%Occupancy 50%As-Is Cash on Cash Return 7.63%Price per SF on Land $ 41.20Price per SF on Building $ 107Property Information:Address 23830 Highway 99Edmonds, WA 98026Land Area84,942 SFRentable Area 32,780 SFPopulation:1 mile 17,4733 mile 122,2085 mile 245,623Income:1 mile $ 72,8523 mile $ 80,1715 mile $ 81,505PAUL SLEETHSenior Vice President+1 206 223 1266paul.sleeth@colliers.comBILLY SLEETHVice President+1 206 654 0522billy.sleeth@colliers.comCOLLIERS INTERNATIONAL601 Union St., Suite 5300Seattle, WA 98101www.colliers.com