311 3rd Street NE, Auburn, WA 98002

$1,350,000

Listing courtesy of John L. Scott, Inc..

List Price
$1,350,000
Status
ACTIVE
MLS#
1945984
Days on Market
30

Property Description

Excellent investment opportunity with a proforma cap rate of 7%. Multi-tenant office building in downtown Auburn perfect for many small and medium businesses. 5,600 SF retail/office space renovated in 2009, divisble to 4 private suites – one with a 7 foot bay door. 2 conveniently located restrooms on the main floor – wheelchair accessible, kitchenette/dining space. 4 gas & 4 electric meters, plenty of storage space, extra closets & 21 parking spaces! Located on busy Auburn Way close to medical center, shopping plazas and more. Zoned DUC – Downtown Urban Center.

Additional Information

Community
Auburn
Building Condition
Very Good
Style
60 - Comm Bldg Und 10K
Year Built
1979
# of Assigned Spaces
21
Roof
Flat
Tax Year
2022
Potential Terms
Cash Out, Conventional
Interior Features
Forced Air, Wall to Wall Carpet, Laminate
Flooring
Laminate, Carpet
Driving Directions
Head east on WA-18 E, Take the WA-164 E/Auburn Wy exit toward Enumclaw, Keep right at the fork and merge onto WA-164 W/Auburn Way S, Turn right after NAPA Auto Parts - (on the right)
Heating/Cooling Type
Forced Air
Electric Expenses
4800
Energy Source
Electric, Natural Gas
Net Operating Income
$94,900
Gross Scheduled Income
$112,000
Water/Sewer/Garbage Expenses
$2,400
Cap Rate
7
Vacancy Rate
5
Total Expenses
$17,100
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