AGM, INC.
2100 124th Avenue NE, Suite 100
Bellevue, WA 98005
425.576.8700 | agmrealestate.com
[ OWNER / USER OPPORTUNITY ]
FLEX PROPERTY FOR SALE OR LEASE
Marymoor Former Force 10 Building
17935 NE 65th Street, Redmond, WA 98053
TROY GESSEL JIM REED
425.576.8747 206.210.5202
[email protected] [email protected]
•
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 2
The 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. Prospective
purchaser (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: $6,000,000
Year Built: 1986
Building Size: 18,289
Renovated: 2010
Zoning: MDD5 - Marymoor
Design District
Price / SF: $328.07
Oakridge Park 18,289 SF Flex Building on 41,742 SF lot, visible from NE 65th in Redmond/Marymoor/East Lake Sammamish area.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Well-maintained masonry building
• Visibility from NE 65th / opportunity for prominent signage
• Zoned MDD5 - Marymoor Design District
• Easy access to downtown Redmond, WA-520, and Marymoor Park
• Walking distance to East Lake Sammamish Trail, Mac & Jack's Brewery, Whole Foods Market, and other retailers
• 100% Available August 1, 2020
EXECUTIVE SUMMARY
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 3
The information contained herein, while not guaranteed, has been secured from sources AGM Incorporated, a commercial real estate company, believes to be reliable and is considered the most current and correct data available. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
LOCATION INFORMATION
Building Name Marymoor Former Force 10 Building
Street Address 17935 NE 65th Street
City, State, Zip Redmond, WA 98053
County King
Signal Intersection No
BUILDING INFORMATION
Tenancy Single
Ceiling Height 24 ft
Office Space 13,141 SF
Number of Floors 2
Average Floor Size 11,331 SF
Year Built 1986
Year Last Renovated 2010
Construction Status Existing
Warehouse % 28.1%
Condition Excellent
Free Standing Yes
Number of Buildings 1
Exterior Walls Masonry
COMPLETE HIGHLIGHTS
17935 NE 65TH STREET, REDMOND, WA 98053
Owner User Analysis New Lease Building
Building SF 18,289 Building SF 18,289
Price 6,000,000$ Base Rental Rate 18.00$
Loan to Value 90% Monthly Base Rent 27,433.50$
Down Payment 600,000$ Operating Expenses 6.00$
Loan Amount-SBA Loan 5,400,000$ Monthly Operating Expenses 9,144.50$
Interest Rate/Amortization-(50% Bank/40% SBA, 3.5% Bank, 2.41% SBA) Total Gross Monthly Rent 36,578.00$
Annual Mortgage $308,124.62 Total Annual Gross Rent 438,936.00$
Annual Operating Costs-($6.00psf) 109,734$ Gross Rental Rate Per Year 24.00$
Total Cost Of Ownership-Annually 417,858.62$
Total Gross Monthly Rent 34,822$
Gross Rental Rate Per SF 22.85$
Average Annual Principal Reduction over 5 years 156,454.37$
Annual Cost after Principal Reduction 261,404.25$
Monthly Cost after Principal $21,783.69 per month
Gross Rental Rate After Principal Reduction 14.29$ includes operating expenses
Estimated Depreciation Deduction (39 Years-2/3 of sale price) 102,564.10$
Avg Tax Savings at 37.5% 38,461.54$
Accelerated Depreciation/Cost Segregation Deduction 400,000.00$
Tax Savings Year 1 at 37.5% 150,000$
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 4
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
OWNER/USER & LEASING SCENARIOS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 5
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
ADDITIONAL PHOTOS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 6
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
ADDITIONAL PHOTOS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 7
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
ADDITIONAL PHOTOS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 8
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
Redmond, WA
REGIONAL MAP
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 9
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
LOCATION MAPS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 10
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
AERIAL MAPS
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 11
The 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. Prospective
purchaser (or lessee) should verify all such information on their own behalf or have information verified by their attorney, accountant or business advisor.
SITE PLAN
17935 NE 65TH STREET, REDMOND, WA 98053
CONFIDENTIAL OFFERING MEMORANDUM | AGM, INC. 12
The 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. Prospective
purchaser (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 3 MILES 5 MILES
Total Population 4,125 72,625 189,388
Average age 30.0 35.3 36.0
Average age (Male) 29.2 33.7 34.9
Average age (Female) 31.1 37.1 37.3
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 1,829 29,897 76,417
# of persons per HH 2.3 2.4 2.5
Average HH income $103,722 $111,289 $112,141
Average house value $517,559 $597,482 $549,363
* Demographic data derived from 2010 US Census
DEMOGRAPHICS MAP & REPORT
17935 NE 65TH STREET, REDMOND, WA 98053
