AGM, INC.2100 124th Avenue NE, Suite 100

Bellevue, WA 98005425.576.8700 | agmrealestate.com

[ MULTI-BUILDING RETAIL CENTER OPPORTUNITY ]

RETAIL PROPERTY FOR SALE

Auburn Airport Plaza402, 440, 502 16th Street NE, Auburn, WA 98002

JIM REED TROY GESSEL206.210.5202 425.576.8747

jimr@agmrealestate.com troy@agmrealestate.com

•

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 2The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

OFFERING SUMMARY

Sale Price: $3,250,000

Cap Rate: 9.49%

NOI: $308,525

Year Built: 1987

Building Size: 32,551

Zoning: C-3

Price / SF: $99.84

Land Lease Expiration: 9/30/2040

Neighborhood retail center available in Auburn's core retail trade area, near the intersection of 15th Street NE and Auburn Way,and adjacent to the Auburn Municipal Airport. WA-167 (0.9 miles) and WA-18 (1.6) miles provide easy access to Seattle, Bellevue,and Tacoma.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Ground lease valid through September 30, 2040.

ADJACENT TO AUBURN MUNICIPAL AIRPORT

• Auburn Municipal Airport is a city-owned public-use airport located 9 miles from Seatac International Airport.

• With plans for runway expansion in-progress, the airport is poised for growth. Learn more here.

PREMIER 502 TENANT ON PREMISES

• Evergreen Market - Auburn is in the top 5% of cannabis retailers in Washington and is the 10th largest 502 business in theState of Washington based on sales.

EXECUTIVE SUMMARY402, 440, 502 16TH STREET NE, AUBURN, WA 98002

BUILDING C

BUILDING B

BUILDING A

3The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

Auburn Airport Plaza

402, 440, 502 16th Street NE, Auburn, WA 98002

Retail

000080-003585

3.61 AC

32,551 SF

C-3

N/A

169

5.2

1987

1

Property Name:

Property Address:

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Lot Size:

Building Size:

Zoning:

Rail Access:

Parking Spaces:

Parking Ratio:

Year Built:

Number of Stories:

RECENT CAPITAL IMPROVEMENTS

2019 - New roof on Buildings A & B (scheduled)

2019 - Resurfacing of parking lots (scheduled)

2018 - New HVAC unit serving Salon Bella Dea

2018 - New roof on Building C

2018 - Buildings A & C pressure washed and painted

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC.

PROPERTY DETAILS & HIGHLIGHTS402, 440, 502 16TH STREET NE, AUBURN, WA 98002

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 4The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

ADDITIONAL PHOTOS402, 440, 502 16TH STREET NE, AUBURN, WA 98002

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 5The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

ADDITIONAL PHOTOS402, 440, 502 16TH STREET NE, AUBURN, WA 98002

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 6The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

Auburn Airport Plaza

REGIONAL MAP402, 440, 502 16TH STREET NE, AUBURN, WA 98002

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 8The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

RETAILER MAP402, 440, 502 16TH STREET NE, AUBURN, WA 98002

AUBURNMUNICIPALAIRPORT

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 9The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

Building is currently 96% occupied, numbers reflected here are based on 100% occupancy with a 5% vacancy.

INVESTMENT OVERVIEW

$3,250,000$99.84

9.49 %

PricePrice per SF (Building)CAP Rate

OPERATING DATA

$443,124

$203,113

Built-in

($252,437)($85,275)($337,712)

2019 Rent2019 NNN Recapture

2019 Gross IncomeVacancy Loss (5%)

Effective Gross Income

Operating Expenses Ground Lease

Total Operating Expenses

Net Operating Income $308,525

FINANCIAL SUMMARY402, 440, 502 16TH STREET NE, AUBURN, WA 98002

$646,237

$646,237

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 10The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

% OFGLA

PRICEPER SF/YR

A-100 3,480 11/19/2015 11/18/2020 $57,464 10.69 $16.39

A-101 1,174 1/25/2017 1/24/2022 $18,782 3.61 $15.55

A-102 946 12/1/2018 11/30/2023 $13,376 2.91 $14.00

A-104 742 12/1/2018 9/30/2023 $8,489 2.28 $11.22

A-105 1,308 12/1/2018 $15,812 4.02 $14.42

A-106 1,132 10/1/2018 9/30/2023 $16,165 3.48 $14.00

A-107 1,454 4/20/2016 4/19/2021 $20,225 4.47 $13.91

A-108 1,529 4/1/2011 1/31/2020 $22,819 4.7 $14.42

B-302 9,000 8/1/2013 7/31/2023 $116,630 27.65 $12.61

C-300 1,650 8/1/2011 7/31/2021 $21,509 5.07 $12.75

C-300B 1,950 10/1/2012 12/31/2018 $30,059 5.99 $15.76

C-302 1,433 7/1/2012 6/30/2019 $23,498 4.4 $16.04

C-304 980 3/1/2009 7/31/2019 $15,294 3.01 $15.30

C-306 1,267 - 3.89

Evergreen Market - Auburn

Mary Jane's House of Glass XIV LLC

The Beau Barbershop

Big Foot Quilts Expansion

Quehong Li and Yanli Yao

Big Foot Quilts

Scamp Brewing LLC

Sound Service Bureau LLC

Ming He

Auburn Plaza Dental LLC

Staffmark

Salon Bella Dea

Muoi Thi Vo and Hieu Trung Vo

Vacant

Stone Church Auburn C-308/308B/312 4,506 1/1/2016 12/31/2020 $63,000 13.84 $13.98

Totals/Averages 32,551 $443,124 $13.61

2019 RENT ROLL402, 440, 502 16TH STREET NE, AUBURN, WA 98002

11/30/2023

CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 11The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospectivepurchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.

POPULATION 1 MILE 5 MILES 10 MILES

Total population 8,193 194,247 642,755

Median age 35.7 34.4 35.8

Median age (Male) 34.7 33.9 34.8

Median age (Female) 37.0 35.0 36.8

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 3,672 73,282 244,102

# of persons per HH 2.2 2.7 2.6

Average HH income $49,172 $66,728 $72,281

Average house value $208,899 $316,483 $337,678

* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP & REPORT402, 440, 502 16TH STREET NE, AUBURN, WA 98002