C A S I N O C O R N E R S T R I P C E N T E R

T H E

MONROE

LYNWOOFD

EVERETT

WHIDBEY ISLAND

BOTHELL

MILL CREEK

MARYSVILLE

EDMONDS

MUKLITEO

MOUNTLAKE TERRACE

SNOHOMISH

CASINO CORNER STRIP CENTER

Paragon Real Estate Advisors are proud to present you an exclusive listing at 315 E Casino. This diversified five tenant retail center is located at the high visibility on-ramp to Highway 526 and Evergreen Way in Everett WA. This property’s current rents are very attractive for the market area allowing significant upside as spaces turn. At a current cap rate of 5.27%, $242 sq.ft. and $76/sq.ft. for land this opportunity won’t last long.

NAME The Casino Corner Strip Center

ADDRESS 315 E Casino Road, Everett, WA 98208

TOTAL SPACES 5

BUILT 1984

SQUARE FEET Approx. 7,740 Total Net Rentable

PRICE $1,875,000

PRICE PER FOOT $242

CURRENT GRM/CAP 12.2/5.27%

MARKET GRM/CAP 11.4/5.9%

LOT SIZE 24,393 Square Feet

LAND COST $76 Per Square Foot

ZONING MU (Mixed Urban)

O F F E R I N G

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

� Prime freeway exposure at Casino Corner

� Signalized corner location along Casino Road and Evergreen Way

� Excellent street visibility and building signage

� Five tenant retail strip center

� All NNN tenants

� Below market rents with significant upside

� 100% leased with long term tenants

�Highway access to Mulkiteo Ferry

� East of Paine Field

�High traffic exposure location with over 37,800 cars per day

� 33 parking spots with 2 access points

�Highly accessible location adjacent to Highway 526

I N V E S T M E N T H I G H L I G H T S

E V E R E T T N E I G H B O R H O O D A M E N I T I E S

1. Anthony’s HomePort Everett

2. Jetty Bar & Grille

3. Tampico Mexican Restaurant

4. Buck’s American Cafe

5. Terracotta Red

6. Sol de Mexico

7. Romio’s Pizza & Pasta

8. Eight Ball Cafe

9. The Lighthouse Saloon

10. The Fireplace Bar

11. Twin Foxes

1. QFC

2. Safeway

3. Gateway To Everett Mall

4. Kaiser Permanente Everett Medical Center

5. Lowe’s Home Improvement

1. Spencer Island Park

2. Lowell Riverfront Trail

3. Fobes-Ebey Slough Dike Road Trail

4. Pigeon Creek Trail

5. Bridgecreek Trail

6. Garfield Elementary School

7. Everett High School

8. Jefferson School

Restaurants & Bars

Shops & Services

Schools & Parks

9

2

1

CASINO CORNER STRIP CENTER

7

6

7

2

3

1

2

3

5

48

10111

45

3

4

5

6

8

E V E R E T T

POPULATION

109,766

MEDIAN HOUSEHOLD INCOME

$60,759

RENTER-OCCUPIED HOUSING54%

MEDIAN RENT

$1,241

Everett is the county seat of and the largest city in Snohomish County, Washington, United States. It is 25 miles (40 km) north of Seattle and is one of the main cities in the metropolitan area and the Puget Sound region.

Everett remains a major employment center for Snohomish County, but has also become a bedroom community for Seattle in recent decades. Everett stages several annual festivals and is also home to minor league sports teams, including the Everett Silvertips at Angel of the Winds Arena.

City’s economy is centered around aerospace manufacturing, maritime activities, the technology sector, and the service industry.The largest employer in the city is airplane manufacturer Boeing, with 31 percent of all jobs.

EVERETT

ALDERWOOD MALL

BOEING FACTORY

SEATTLE EMPLOYER MAP

SEATTLE

SAN FRANCISCO

PACIFIC OCEAN

SEATTLE’S BOOMING TECH MARKET

TEC

H M

IGR

ATIO

N FROM

SAN FRANCISCO BAY AREA

LOCAL TECH COMPANIES IN SEATTLE

KING COUNTY INFORMATION

POPULATION

HOUSEHOLD INCOME

EDUCATION

KING COUNTY 2.3 million

KING COUNTY BACHELOR’S OR HIGHER DEGREE RATE

53.2%

KING COUNTY MEDIAN HOUSEHOLD INCOME

KING COUNTY INCREASE SINCE 2OOO

$95,009

by 78% ($41,852)

NATIONAL MEDIAN HOUSEHOLD INCOME

NATIONAL INCREASE SINCE 2OOO

$63,179 by 3% ($1,780)

KING COUNTY NUMBER OF UNIVERSITIES

10

NATIONAL BACHELOR’S OR HIGHER DEGREE RATE

32.6%

REAL ESTATE

KING COUNTY RENTAL HOUSING RATE

KING COUNTY MEDIAN MONTHLY RENT

43%

$1,494

NATIONAL RENTAL HOUSING RATE

NATIONAL MEDIAN MONTHLY RENT

36% $1,023

SINCE 2O1O, ON AVERAGE, KING COUNTY HAS ADDED 31,8OO PEOPLE PER YEAR, OR 13,OOO HOUSEHOLDS AT 2.45 PERSONS PER HOUSEHOLD.

POPULATION GROWTH HAS BEEN GREATER THAN HOUSING PRODUCTION CONSISTENTLY SINCE 2O11.

B U I L D I N G P H O T O S

B U I L D I N G P H O T O S

Lease Summary

SUITE TENANT SQ. FT. START DATE BASE RENT NNN OPTION 1

A Vehicle Safety 2,367 12/7/2017 $2,214.50 31.00% None

B Smile Bright Dental 1,088 7/30/2012 $1,459.00 14.10% Exercised

C Annes Hair 1,088 1/1/1998 $1,633.00 13.66% Exercised

D NW Cellular 800 8/15/2011 $1,163.81 10.30% Exercised

E 3 Amigos 2,400 11/1/2018 $2,400.00 31.00%1-5 yr (3% increase)

Total/Avg 7,743 $8,870.31 100%

MONTHLY INCOME CURRENT MARKET

Monthly Scheduled Rent $8,870 $9,884

NNN Reimbursements $3,863 $3,863

Other Income $0 $0

Parking $0 $0

Miscellaneous $0 $0

Total Monthly Income $12,733 $13,747

ANNUALIZED OPERATING DATA CURRENT MARKET

Scheduled Gross Income $152,798 $164,962

Less Vacancy 5.00% $7,640 5.00% $8,248

Gross Operating Income $145,158 $156,714

Less Expenses $46,357 $46,357

Net Operating Income $98,801 $110,357

Annual Debt Service ($6,433.01) $77,196 $77,196

Cash Flow Before Tax 3.29% $21,605 5.05% $33,161

Principal Reduction $28,973 $28,973

Total Return Before Tax 7.71% $50,578 9.47% $62,134

Income and Expenses

ANNUALIZED OPERATING EXPENSES CURRENT MARKET

RE Taxes 2021 $19,026 $19,026

Insurance $7,035 $7,035

Utilities $3,962 $3,962

Professional Mgmt $6,000 $6,000

Maint/Repairs $2,622 $2,622

HVAC $2,712 $2,712

Reserves $5,000 $5,000

Total Expenses $46,357 $46,357

SUITE

TYPE

SQ. FT

CURRENT

RENT PER SF

MONTHLY

INCOME

A Vehicle Safety 2,367 $11 $2,215

B Smile Bright Dental

1,088 $16 $1,459

C Anne's Hair 1,088 $18 $1,633

D NW Cellular 800 $17 $1,164

E 3 Amigos 2,400 $12 $2,400

Total/Avg 1,550 $15 $1774

Spaces 5

Year Built 1984

Rentable Area 7,740 sq. ft

Down Pmt $656,250

Loan Amount $1,218,750

Interest Rate 4.00%

Amortization 25

Price $1,875,000

Per Sq. Ft. $242.25

Current GRM 12.27

Current CAP 5.27%

Market GRM 11.37

Market CAP 5.89%

Expense/Foot $5.99

Percent of EGI 30.34%

Expense/Foot $5.99

Percent of EGI 28.10%

CURRENT

OPERATIONS

MARKET

OPERATIONS

600 University St, Suite 2018Seattle Washington 98101206 623-8880 / info@ParagonREA.comwww.ParagonREA.com

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