Courtesy: Real Broker LLC
855-450-0442
Thomas Dunbaden
Amazing location for this Street-front retail condo ideally situated within blocks of the Des Moines Pier, Marina and Beach Park. This small mixed-use building has 16 residential condos above the street front retail with ample curbside parking for customers and residents. The well maintained Pier View Condominium Complex was built in 2002 with a private lobby, elevator and outside gated stair access. This unit features 4 offices, 1 reception area, 1 mudroom with sink and mini fridge, and a handicap accessible restroom. This condo is fully leased with 7 years left on a 10-year lease with annual 3% rent increases beyond the 2023 base year. Tenant pays all expenses including HOA increases and property taxes above the Base year. Located South and East of the Des Moines Park Conservation Area and within very close proximity to the Des Moines Marina.
Courtesy: DBW Private Brokerage LLC
206-669-5127
Xia Cutter
This offering presents a rare opportunity to acquire a 100 % leased, single-tenant retail asset occupied by Jack in the Box, Inc. in the highly accessible and densely populated submarket of Des Moines in King County. The freestanding building is situated on 23,630 SF of land at the intersection of Marine View Drive and South 227th Street, benefiting from excellent visibility and proximity to Des Moines Marina and Seattle-Tacoma International Airport, along with limited fast-food competition in the immediate area. The property features a long-term lease through November 2029, with four 5-year renewal options and CPICPI-based rent escalations, providing stable cash flow within the growing Puget Sound corridor.
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Des Moines is located in Washington. Des Moines, Washington has a population of 32,631. Des Moines is less family-centric than the surrounding county with 30.24% of the households containing married families with children. The county average for households married with children is 35.99%.
The median household income in Des Moines, Washington is $73,131. The median household income for the surrounding county is $106,326 compared to the national median of $69,021. The median age of people living in Des Moines is 38.6 years.
The average high temperature in July is 76.7 degrees, with an average low temperature in January of 36.7 degrees. The average rainfall is approximately 38.9 inches per year, with 5 inches of snow per year.
