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5655 3rd Ave 17,278 SF Retail Building Ferndale, WA 98248 $4,507,084 CAD ($260.86 CAD/SF) 6.75% Cap Rate
EXECUTIVE SUMMARY
Recently converted and updated CVS located in downtown Ferndale. 6.75% cap with a NNN lease. Lease runs through 2/2032 with tenant holding Six 5 year options to renew.
17,278 sf free standing building on a 1 acre parcel with a drive thru pharmacy.
17,278 sf free standing building on a 1 acre parcel with a drive thru pharmacy.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
17,278 SF
Building Class
C
Year Built/Renovated
1962/2025
Price
$4,507,084 CAD
Price Per SF
$260.86 CAD
Cap Rate
6.75%
NOI
$304,228 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.40
Lot Size
1.00 AC
Zoning
CB
Parking
58 Spaces (3.36 Spaces per 1,000 SF Leased)
Frontage
117’ on 3rd Ave
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- CVS
- -
- 17,278 SF
- -
- Triple Net
- Feb 2032
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| CVS | - | 17,278 SF | - | Triple Net | Feb 2032 |
Walk Score®
Very Walkable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 390229-057506-0000 | Improvements Assessment | $3,251,105 CAD |
| Land Assessment | $1,343,573 CAD | Total Assessment | $4,594,678 CAD |
PROPERTY TAXES
Parcel Number
390229-057506-0000
Land Assessment
$1,343,573 CAD
Improvements Assessment
$3,251,105 CAD
Total Assessment
$4,594,678 CAD
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5655 3rd Ave
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