Description
Two parcels totaling 21,750 SF in the heart of Magnolia Village and home to the long-term tenant, Magnolia Garden Center. This property is one of the largest parcels in Magnolia Village with commercial zoning and is on the market for the very first time. 2455 32nd Ave W is a 7,975 SF corner lot with a 1,912 SF building and is zoned NC2P-55 (M). 3213 W Smith St is a 13,775 SF lot with a 1,968 SF building and is zoned NC2-55 (M). Single tenant on a NNN lease occupies both properties with a lease through Dec 2028 plus one 5-year option to extend. NOI currently $58k, increasing to $68k on 1/1/24 with 3% annual increases thereafter. Incredible location and once-in-a-lifetime opportunity to acquire nearly half an acre of land in Magnolia Village.
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School Ratings & Info
Listing information ©2023 Northwest MLS. Listing courtesy of Windermere Real Estate Midtown.
Sold by .Description
Two parcels totaling 21,750 SF in the heart of Magnolia Village and home to the long-term tenant, Magnolia Garden Center. This property is one of the largest parcels in Magnolia Village with commercial zoning and is on the market for the very first time. 2455 32nd Ave W is a 7,975 SF corner lot with a 1,912 SF building and is zoned NC2P-55 (M). 3213 W Smith St is a 13,775 SF lot with a 1,968 SF building and is zoned NC2-55 (M). Single tenant on a NNN lease occupies both properties with a lease through Dec 2028 plus one 5-year option to extend. NOI currently $58k, increasing to $68k on 1/1/24 with 3% annual increases thereafter. Incredible location and once-in-a-lifetime opportunity to acquire nearly half an acre of land in Magnolia Village.
The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Tribeca NW Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2023-03-23T10:14:21.493. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market". Based on information submitted to the MLS GRID as of 2023-03-23T10:14:21.493. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.