520 3rd Street
520 3rd Street
Lease or Sale: Lease & Sale
Building Size: ±13,366 SF Sale Price: $1,150,000
Leasable SF: 13,366 SF
Lease Rate: $0.65 / SF / Month
520 Third Street, located in Downtown Marysville provides a rare opportunity for a tenant to lease or an owner/user or investor to acquire a highly visible industrial/ showroom property totaling 13,366 square feet, with the entire building available now.
The Property features approximately 165 linear feet of frontage along Third Street, along with approximately 3,000 square feet of improved office/showroom space, three (3) grade level doors and two (2) rear 8’ wide loading doors on the south end of the Property.
The Subject Property sits along one of Downtown Marysville’s busiest commercial corridors, 3rd Street, and is just one minute away from Highway 70, the primary ingress and egress point to and from the surrounding suburbs into Downtown Marysville. The Property benefits from more than 20,000 cars per day, which makes 520 Third Street intriguing to either a tenant, or owner/user that can benefit from the prominence of a rare 13,366 square foot building for their own use, or an investor looking to capitalize on the incredibly tight and low vacancy industrial market throughout the Central Valley.
The zoning of the Property (M-1) is conducive to a variety of uses and with excellent freeway access, 520 Third Street will provide the new owner of this Property with an immensely valuable site for years to come. Based on an estimated triple net rent of $0.65 / SF NNN, or $104,254.80 per year, this reflects an astonishing 10.4% year one cap rate for an investor or owner/user.
Marysville’s industrial market is robust and in high demand. Of the 270 industrial properties near 520 Third Street, there are only six spaces available for lease or sale, with an overall vacancy rate of 2.1%, down from 2.8% from the previous quarter with 42,900 square feet of positive net absorption and 8.3% rent growth. The average sale price of industrial real estate in this submarket is more than $101 per square foot, well above our asking price for the Subject Property.
Unit: Entire Building
Size: 13,366 SF
Rate: $.65 SF/Month
Lease Type: NNN
You might also like:
301 Capitol Mall
Lot Size: 2.39 acres
Lease or Sales: Sale
Sale Price: Negotiable
Use: Retail / Office / Restaurant
Lease or Sales: Lease
Leasable SF: 1,035 - 15,149 SF
Lease Rate: $1.00 - 4.00 SF/Month