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Silverdale, Washington

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NNN Pro Group is pleased to present this exclusive listing of a Lowe’s located at 2221 NW Mhyre Road in Silverdale, WA. The site, constructed in 2008 and consists of roughly 111,000 rentable square feet of building space on estimated 12.43-acre parcel of land. This Lowe’s is subject to a 20-year triple-net (NNN) ground lease, which commenced on June 1, 2008. There are approximately 5.2 years remaining. The annual rent is $737,000 and is subject to 10% rental increases in each option period. There are four (4) five (5)-year tenant renewal options, extending the total possible lease term to 45 years.

About the Investment:

✓ 5 Years Remaining on an Original 20-Year Triple-Net (NNN) Ground Lease
✓ 10% Increases In Option Periods
✓ Four (4), Five (5) Year Tenant Renewal Options
✓ Corporate Guarantee from Lowe’s Companies, Inc. (NYSE: LOW) – S&P: BBB+
✓ Positioned on a Large 12.43 Acre Lot

Key Details

Cap Rate:
Annual Rent:
2221 NW Mhyre Road, Silverdale, Washington 98383
Property Type:
Net Lease Home Improvement
Lease Type:
Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
June 1, 2008
Lease Expiration:
May 31, 2028
Lease Term Remaining:
5.2 Years
Rental Increases:
10% In Option Periods
Lot Size:
12.43 Acres
Building Size:
111,000 SF
Year Built:

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Anthony Bird

License: 10401306066

Richard Nardi

License: 10401294015

Anthony D’Ambrosia

License: 10401294012

Broker of record

Brian Brockman

Bang Realty, Inc

License: 27380

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