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Aerial view of The Junction retail center with red roofing and adjacent trees

The Junction | Woodinville, WA

UNDER CONTRACT – The Junction is a premier Class A neighborhood retail center located in Woodinville, WA. Built in 2010 and now 93% occupied, the property hosts a diverse mix of tenants including fast food, auto services, and tasting rooms. All leases include NNN expense structures and annual rent increases, providing investors with inflation protection and low management intensity.
Strategically located at a signalized intersection with over 600 feet of frontage and exposure to 25,000+ vehicles per day, The Junction benefits from excellent visibility and access via two driveways on 144th Avenue NE. With 84 parking stalls and proximity to rapid residential and multifamily growth, this property offers long-term value in one of Puget Sound’s most vibrant submarkets.
 
 
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  • Property Overview

    • Address: 19111, 19131, 19151 and 19171 144th Ave NE, Woodinville, WA 98072
    • Rentable SF: 31,000 SF
    • Price Per SF: $339.03
    • Total Land Area: 133,885 SF
    • Price Per Land SF: $78.50

  • Investment Highlights

    SIGNIFICANT  RENTAL UPSIDE
    The property is 93% occupied, with an average rental rate of $20/SF. A recently signed lease was executed at $26/SF with no tenant improvement allowances.

     

    STABLE  TENANT BASE
    Nearly 50% of the current tenant base has been at the property for 20+ years, and the current rent roll has a WALT of 5+ years. The property has maintained at least 90% occupancy since construction.

     

    PASSIVE  NNN LEASES
    All tenants are on NNN leases with operating cost reimbursements and annual scheduled increases of 2 to 3.5%. This provides investors with protection from expense inflation.

     

    HIGH VISIBILITY: HARD CORNER LOCATION
    The property has over 600’ of frontage on the signalized corner of 144th Ave NE & NE N Woodinville Way, providing significant visibility to the 25K vehicles that pass daily.

     

    EXCEPTIONAL DEMOGRAPHICS
    The 5-mile population has increased 23% since 2010 with over 2,200 multifamily and townhome units under construction, signifying continued growth. The area’s median household income is $124,552, with various industries driving employment in and around the area.

     

    HIGH BARRIERS TO ENTRY
    There are no ongoing retail and small-bay industrial developments in Woodinville. The supply of similar space is highly constrained and continued high construction costs restrict the near-term potential for competing product construction.

     

    RAPID RENT GROWTH SUBMARKET
    The Woodinville submarket has experienced 60% rent growth over the past decade and has maintained an average vacancy rate below 4% over that time.

     

    NEWER  CONSTRUCTION
    The building was built in 2010 and has been meticulously maintained to ensure that the future investor shall have very minimal capital expenditure requirements.

$10,510,000.00Price
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