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    502 54th Ave Avenue E

    Fife, WA 98424
    • $2,650,000
    • STATUS: Active
    • ON SITE: 82 days
    • ID#: 1769370
    Price Reduced
    UPDATED: 31 min ago
    $2,650,000
    • 0
      BEDS
    • 0.89
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1984
    County:
    Area:

    School Ratings & Info

    Listing Courtesy of Better Properties Fairwood.

    Description

    Fantastic Opportunity to purchase turnkey Medical Building with long term tenant serving the Port of Tacoma and city of Fife. Property located on main arterial connecting Hwy 509 and I5. Building is located in Fife Industrial zone and has 5% CAP Rate. Current tenant is on lease until 2024 with options to extend until 2030. Ability to renegotiate on renewal for instant equity and CAP increase in the near future. See attached Offer Memorandum with recently updated 2021 financials for detailed listing info.

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    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 Simmi Real Estate | Keller Williams Eastside are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-07-28T10:13:42.077.

    www.simmirealestate.com/homes/116846165
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    502 54th Ave Avenue E Fife, WA 98424

    • Price: $2,650,000
    • Status: Active
    • Updated: 31 min ago
    • ID#: 1769370
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.89
    Acres
    1984
    Built
    Neighborhood:
    Fife
    County:
    Pierce
    Area:
    Fife
    Property Description
    Fantastic Opportunity to purchase turnkey Medical Building with long term tenant serving the Port of Tacoma and city of Fife. Property located on main arterial connecting Hwy 509 and I5. Building is located in Fife Industrial zone and has 5% CAP Rate. Current tenant is on lease until 2024 with options to extend until 2030. Ability to renegotiate on renewal for instant equity and CAP increase in the near future. See attached Offer Memorandum with recently updated 2021 financials for detailed listing info.
    Exterior Features

    Carport YN No Exterior Features Metal/Vinyl Foundation Details Slab Open Parking YN No Parking Total 50 Parking Uncovered Total 50 Roof Flat Site Frontage 167 Structure Type Industrial Style Code 70 - Industrial Topography Level

    Interior Features

    Cooling YN Yes Fireplace YN No Flooring Laminate Furnished Unfurnished Heating Cooling Type Heat Pump Heating YN Yes

    Property Features

    Electric Expense 0 Electric On Property YN No Expansion Area False First Right Of Refusal False Fuel Expense 0 Gross Adjusted Income 176788 Gross Scheduled Income 176788 Insurance Expense 6673 Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 154698 Possible Use Industrial Power Production Type Electric Property Condition Good Property Sub Type Commercial Industrial Sewer Sewer Connected Special Listing Conditions None Tax Annual Amount 15017 Tax Year 2021 Total Expenses 21690 Utilities Sewer ConnectedElectricity Available Water Sewer Garbage 0 Water Source Public Zoning Class Industrial Zoning Jurisdiction City

    Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Simmi Real Estate | Keller Williams Eastside and should be verified by the buyer.


    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 Simmi Real Estate | Keller Williams Eastside are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-07-28T10:13:42.077.

     
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    Simmi Real Estate | Keller Williams Eastside
    2616 241st Ave SE
    Sammamish WA, 98075
    Listing Courtesy of Better Properties Fairwood.