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111 E North Bend Way 4,574 SF 100% Leased Retail Building North Bend, WA 98045 $1,743,125 CAD ($381.09 CAD/SF) 5.15% Cap Rate
Investment Highlights
- Prime Retail Frontage
- High Barrier to Entry
- Significant Rental Upside
Executive Summary
Marcus & Millichap is pleased to present an exceptional investment opportunity in the heart of North Bend, Washington. Strategically positioned along E North Bend Way, the North Bend Retail Center offers excellent visibility and ease of access. The 4,574 SF property is fully leased to three tenants under NNN lease structures, all of which are short-term, offering flexibility for future repositioning, leasing at market rents, or potential owner-user occupancy. Surrounded by some of Washington’s premier tourist destinations, the asset is well-positioned to benefit from consistent foot traffic driven by year-round tourism. For more information, please visit: https://www.marcusmillichap.com/properties/178734/deal-room/37ebd9b2c7518ee3
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$94,547
|
$20.67
|
| Other Income |
$30,466
|
$6.66
|
| Vacancy Loss |
$3,750
|
$0.82
|
| Effective Gross Income |
$121,263
|
$26.51
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$31,422
|
$6.87
|
| Net Operating Income |
$89,841
|
$19.64
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $94,547 |
| Annual Per SF | $20.67 |
| Other Income (CAD) | |
|---|---|
| Annual | $30,466 |
| Annual Per SF | $6.66 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,750 |
| Annual Per SF | $0.82 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $121,263 |
| Annual Per SF | $26.51 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $31,422 |
| Annual Per SF | $6.87 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $89,841 |
| Annual Per SF | $19.64 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,574 SF
Building Class
C
Year Built
1929
Price
$1,743,125 CAD
Price Per SF
$381.09 CAD
Cap Rate
5.15%
NOI
$89,841 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.95
Lot Size
0.11 AC
Zoning
DC, North Bend
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 857190-0055 | Improvements Assessment | $792,809 CAD |
| Land Assessment | $517,950 CAD | Total Assessment | $1,310,759 CAD |
Property Taxes
Parcel Number
857190-0055
Land Assessment
$517,950 CAD
Improvements Assessment
$792,809 CAD
Total Assessment
$1,310,759 CAD
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111 E North Bend Way
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