Bought with Pacific Continental Realty LLC
$10,000,000
$9,880,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
6955 Salashan Pkwy Ferndale, WA 98248
7 Acres Lot
Key Details
Sold Price $10,000,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Ferndale
MLS Listing ID 1857437
Sold Date 02/11/22
Style 71 - Light Indrl.
Year Built 1998
Lot Size 7.000 Acres
Property Sub-Type Commercial Industrial
Property Description
6.25% cap rate with 5% vacancy credit loss on an Absolute Net Lease. 5-year renewal just executed with first year rate established at $54,167 per month with annual bumps. Lease includes 2 additional 5-year lease renewal options at market rent. Strong international tenant with excellent rent history. Two buildings, 100k sq ft combined, side by side on 7 acres in North Ferndale. 1 - 40k sq ft and 1 - 60k sq ft fully sprinkled steel buildings that include a mix of grade and dock high doors. Coupon Clipper offered at below replacement cost.
Location
State WA
County Whatcom
Area 870 - Ferndale/Custer
Interior
Fireplace false
Exterior
Utilities Available Septic System, Electric, Natural Gas Connected
Building
Sewer Septic Tank
Water Public
Others
Senior Community No
Acceptable Financing Cash Out
Listing Terms Cash Out
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