22226 6th Ave. S. #101, Des Moines, WA

Retail for Sale - $517,500 - 0.34 acres


Agent Info

Keith McKinney
Coldwell Banker Bain

Property Info

CIMLS#1158359
Location
  22226 6th Ave. S. #101
  Des Moines WA 98198
UpdatedApril 19th, 2024
TypeRetail
Price$517,500
Land0.34 acres

Property Description

Investors this is for you; This street-front retail condo is ideally located within blocks of the Des Moines Pier, Marina and Beach Park. This small mixed-use building has 16 residential condo's above the street front retail with ample curbside and covered parking for customers and residents. The well maintained Pier View Condominium Complex was built in 2002 with private lobby, elevator and outside gated stair access. This unit is fully leased with 9 years left on a 10-year lease with annual 3% rent increases beyond the 2023 base year. Tenant pays all expenses including HOA increases and property taxes above the Base year. Don't miss this one, they don't come along often at an affordable price. Rainier Title and Escrow File #819925RT.


Financials