retail/office building in downtown renton 811 s 3rd st ......retail/office building in downtown...

S. 3rd St.

Wells Ave.

405

Senior Living

Multi-Family

Office Campus 400k SF

Retail/Office Building in Downtown Renton811 S 3rd St. | Renton, WA 98057

9133 112th Ave NE, Kirkland, WA 98033 | msibrokers.com | 425.822.9752 | [email protected]

4 Investment Overview

6 Property Tenants

10 Property Location

12 Trade Area Developments

14 Trade Area Demographics

Click on title to get more info

TABLE OFCONTENTS

PROPERTYHIGHLIGHTS

Great investment opportunity with print shop, chiropractor office, banquet hall and community staple restaurant: La Hacienda Mexican Restaurant and Cantina

Great owner/user investment, using the 2nd floor as home base, with rest of building 100% leased

When fully leased at market rates, investment would be potential 9 CAP

Just off 405 Freeway with over 240’ of exposure on both S. 3rd St. and Wells Ave.

Located in prime Downtown Renton and is close to City Hall and Renton Transit Station

mailto:Grant%40mcallenandsons.com?subject=mailto:Grant%40mcallenandsons.com?subject=mailto:Grant%40mcallenandsons.com?subject=tel://14258229752tel://14258229752tel://14258229752

S. 3rd

St.Wells Ave.

4 5Grant Fallon 425.822.9752 (o) | [email protected]

INVESTMENTOVERVIEW

McCallen & Sons, Inc. is pleased to present the opportunity to acquire the Malhotra Building located in the heart of the downtown Renton business district. The ground floor consists of 11,880 SF of premium retail space on the corner of Wells Ave S and S 3rd St. Building backs up to the Renton Post Office parking lot and is under a half mile to the 405 Freeway, this building is home to the iconic La Hacienda Mexican Restaurant and Cantina. The 2nd floor office space is 6,370 SF, is currently vacant and in need of major renovation to be leased at market rates.

The city of Renton is currently one of the fastest growing cities in Washington spurred by developments such as The Landing and Southport making this a great investment to capitalize on the future appreciation of the area.

Property DetailsListing Price $3,350,000

Lot Size ±.28 Acres

Price/SF/Land $279.17

Total Building GLA ±18,250 SF

Retail GLA: ±11,880 SF

Office GLA: ±6,370 SF

Price/SF/Building $183.56

Year Built 1940

Effective Year 1995

Ceiling Height Retail: 11’ / Office: 9’

Property Zoning CD (Center Downtown)

Uses Allowed Medical/Clinic, Dental, Veterinarian, General Office, Assisted Living, School, Eating & Drinking Establishment, Hotel, Retail and Daycare

View drone footage of property, click on logo

mailto:grant%40mccallenandsons.com?subject=Interested%20in%207421%20Mazama%20Sthttps://vimeo.com/341225277


WOW!!!! Now this is amazing, real food! This definitely sets the stage for good Mexican and Indian food. Authentic Mexican food, that’s coming from someone who is from Jalisco, Mexico. Indian food is flavorful and tastes fresh! Very kid friendly, clean, and the staff are attentive and very kind. My new all time favorite restaurant.

-Gloria H., 2018

4.5 out of 5 Stars, GrubHub

4.1 out of 5 Stars, Google

PROPERTYTENANTS

WWW

“Really impressed with our dinner. Had the queso fundito jalapeno served with yummy corn chips. Husband had the Carne Asada. He loved it. I had the shrimp fajitas and they were very tasty. We will definitely order from here again.”

-Ellen, 2019

“La Hacienda Santa Fe always delivers super fresh and tasty food, and they’re almost always faster than the site says they’ll be - we love La Hacienda Santa Fe!!”

-Jennifer, 2018

For more reviews, click logo

mailto:grant%40mccallenandsons.com?subject=Interested%20in%207421%20Mazama%20Sthttps://www.yelp.com/biz/la-hacienda-santa-fe-rentonhttps://www.lahaciendasantaferenton.com


PROPERTYTENANTS

Can I just say that I am utterly amazed? Dr. Park cracked my back in many places I didn’t know were possible. In addition, I got a good 30-40 minute massage that really worked the problem shoulder with the pinched nerve....I highly recommend this place for a complete body work over!

-Kathleen L.

Wells ChiropracticSudden Printing

Long-term stable tenant with great reputation in the community.

Capacity for 120 person parties and events. Recently underwent major remodel.

mailto:grant%40mccallenandsons.com?subject=Interested%20in%207421%20Mazama%20St

Wells Ave.

S. 3rd St.


PROPERTYLOCATION


19

25

76

813149

10

1617

18

15

1112

3

4

120

24

22

21

SeaTac Airport

Renton Airport

SITE

23


New Office / Industrial Developments1 Boeing Renton Facility

2 Southport on Lake Washington (730k SF, Class A Office)

3 Kaiser Permanente (29 Acres, 3 Phase Medical Campus)

4 Valley Medical Building (160K SF, Class A Office)

New New Hotel Developments5 Residence Inn by Marriott (140 Rooms)

6 Hampton Inn & Suites (110 Rooms)

New Multi-Family/Residential Developments7 Sunset Court Apartments (50 Units)

8 Sunset Edge Townhomes (10 Units)

9 Earlington Village Townhomes (30 Units)

10 June Leonard Place Apartments (48 Units)

11 Merrill Gardens Senior Living (6 Story Addition, 170K SF)

12 Grant Avenue Townhomes (5 Units)

New Educational Developments13 Satori Elementary School (79k SF, 650 Students)

New Mixed-Use/Retail Developments14 The Landing Premier Shopping Center (TopGolf pending)

15 2nd & Main (101 Multi-Family Units, 4k SF Retail)

16 Via 405 Mixed-Use (270 Multi-Family Units, 1st Floor Retail)

17 Tukwila Village/Tukwila South Mixed-Use (400 Multi-Family Units, 10M SF Retail/Office/Industrial)18 IKEA (400k SF, 50 Employees)

Community Spaces19 Gene Coulon Memorial Beach Park (57 Acres)

20 Cedar River Trail Park (24 Acres)

21 Cedar River Trail Fitness Station (Outdoor Gym)

22 Liberty Park (12 Acres)

23 Cedar River Park (Aquatic Center & 300 Seat Theater)

24 Waterworks Gardens (Art and Tech Public Park)


1 Mile 3 Mile 5 Mile

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FULL PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 47.4795/-122.2059RF1

811 S 3rd St1 mi radius 3 mi radius 5 mi radius

Renton, WA 98057

LAB

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2019 Est. Labor Population Age 16 Years or Over - 11,654 93,153 207,2762019 Est. Civilian Employed - 67.7% 68.0% 66.8%2019 Est. Civilian Unemployed - 2.3% 2.2% 2.4%2019 Est. in Armed Forces - 0.2% - -2019 Est. not in Labor Force - 29.9% 29.8% 30.7%2019 Labor Force Males - 48.5% 49.0% 49.6%2019 Labor Force Females - 51.5% 51.0% 50.4%

OC

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2019 Occupation: Population Age 16 Years or Over 0 T 7,886 63,336 138,5072019 Mgmt, Business, & Financial Operations - 13.9% 16.0% 17.1%2019 Professional, Related - 21.1% 22.3% 22.6%2019 Service - 21.8% 20.2% 18.8%2019 Sales, Office - 23.0% 21.7% 21.4%2019 Farming, Fishing, Forestry - - 0.2% 0.2%2019 Construction, Extraction, Maintenance - 5.3% 7.5% 7.5%2019 Production, Transport, Material Moving - 14.8% 12.1% 12.3%2019 White Collar Workers - 58.1% 60.0% 61.2%2019 Blue Collar Workers - 41.9% 40.0% 38.8%

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2019 Drive to Work Alone - 67.5% 69.9% 68.9%2019 Drive to Work in Carpool - 13.6% 13.3% 12.6%2019 Travel to Work by Public Transportation - 10.0% 9.5% 10.4%2019 Drive to Work on Motorcycle - 0.4% 0.2% 0.2%2019 Walk or Bicycle to Work - 3.8% 2.2% 2.4%2019 Other Means - 0.3% 0.5% 0.6%2019 Work at Home - 4.4% 4.4% 4.9%

TRA

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E 2019 Travel to Work in 14 Minutes or Less - 13.6% 12.7% 13.2%2019 Travel to Work in 15 to 29 Minutes - 37.1% 35.1% 33.9%2019 Travel to Work in 30 to 59 Minutes - 41.9% 42.1% 40.6%2019 Travel to Work in 60 Minutes or More - 12.9% 12.8% 12.2%2019 Average Travel Time to Work 29.3 29.6 29.3

CO

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2019 Est. Total Household Expenditure $0 T $409.86 M $3.23 B $7.43 B2019 Est. Apparel $0 T $14.4 M $114.56 M $265.57 M2019 Est. Contributions, Gifts - $22.89 M $183.9 M $436.49 M2019 Est. Education, Reading - $12.69 M $104.5 M $252.59 M2019 Est. Entertainment $0 T $22.74 M $182.83 M $425.82 M2019 Est. Food, Beverages, Tobacco - $63.46 M $495.23 M $1.13 B2019 Est. Furnishings, Equipment $0 T $14.17 M $113.6 M $264 M2019 Est. Health Care, Insurance - $37.38 M $292.42 M $668.11 M2019 Est. Household Operations, Shelter, Utilities - $134.66 M $1.05 B $2.39 B2019 Est. Miscellaneous Expenses $0 T $7.73 M $60.97 M $140.69 M2019 Est. Personal Care $0 T $5.52 M $43.37 M $99.72 M2019 Est. Transportation $0 T $74.21 M $589.62 M $1.35 B

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 3 of 3 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography

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Lat/Lon: 47.4795/-122.2059RF1


Renton, WA 98057

POPU

LATI

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2019 Estimated Population 0 T 13,925 115,888 259,6602024 Projected Population 0 T 15,094 123,637 276,7962010 Census Population 0 T 12,516 103,937 236,1742000 Census Population 0 T 10,741 87,424 205,095Projected Annual Growth 2019 to 2024 - 1.7% 1.3% 1.3%Historical Annual Growth 2000 to 2019 - 1.6% 1.7% 1.4%

HO

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2019 Estimated Households 0 T 6,839 46,361 98,0962024 Projected Households 0 T 7,409 49,929 105,6722010 Census Households 0 T 6,047 41,270 88,6882000 Census Households 0 T 5,231 36,635 79,849Projected Annual Growth 2019 to 2024 - 1.7% 1.5% 1.5%Historical Annual Growth 2000 to 2019 - 1.6% 1.4% 1.2%

AG

E

2019 Est. Population Under 10 Years - 11.0% 12.8% 12.8%2019 Est. Population 10 to 19 Years - 8.6% 10.9% 11.8%2019 Est. Population 20 to 29 Years - 15.9% 14.2% 12.9%2019 Est. Population 30 to 44 Years - 23.4% 23.9% 23.1%2019 Est. Population 45 to 59 Years - 17.2% 18.7% 19.9%2019 Est. Population 60 to 74 Years - 14.7% 13.8% 14.3%2019 Est. Population 75 Years or Over - 9.2% 5.7% 5.2%2019 Est. Median Age 38.9 36.5 37.3

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2019 Est. Male Population - 49.0% 49.4% 50.0%2019 Est. Female Population - 51.0% 50.6% 50.0%

2019 Est. Never Married - 42.6% 36.3% 33.0%2019 Est. Now Married - 32.3% 42.4% 46.8%2019 Est. Separated or Divorced - 18.9% 16.1% 15.3%2019 Est. Widowed - 6.2% 5.1% 4.9%

INC

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2019 Est. HH Income $200,000 or More - 4.4% 7.1% 9.8%2019 Est. HH Income $150,000 to $199,999 - 6.4% 8.9% 10.3%2019 Est. HH Income $100,000 to $149,999 - 16.6% 18.2% 18.8%2019 Est. HH Income $75,000 to $99,999 - 15.9% 16.3% 15.5%2019 Est. HH Income $50,000 to $74,999 - 17.5% 18.5% 16.9%2019 Est. HH Income $35,000 to $49,999 - 13.6% 11.7% 10.4%2019 Est. HH Income $25,000 to $34,999 - 7.7% 6.4% 6.3%2019 Est. HH Income $15,000 to $24,999 - 9.0% 6.2% 5.7%2019 Est. HH Income Under $15,000 - 9.0% 6.7% 6.3%2019 Est. Average Household Income $0 T $78,963 $99,301 $111,3152019 Est. Median Household Income $0 T $66,952 $78,671 $88,3442019 Est. Per Capita Income $0 T $38,893 $39,817 $42,147

2019 Est. Total Businesses 0 T 1,178 4,985 8,9772019 Est. Total Employees 0 T 27,315 76,397 131,138


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2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 47.4795/-122.2059RF1


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2019 Est. White - 51.2% 46.1% 47.5%2019 Est. Black - 16.1% 15.7% 14.2%2019 Est. Asian or Pacific Islander - 20.9% 25.2% 26.3%2019 Est. American Indian or Alaska Native - 0.8% 0.7% 0.6%2019 Est. Other Races - 11.0% 12.4% 11.4%

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IC 2019 Est. Hispanic Population 0 T 1,609 15,165 30,1762019 Est. Hispanic Population - 11.6% 13.1% 11.6%2024 Proj. Hispanic Population - 11.4% 12.7% 11.4%2010 Hispanic Population - 11.6% 13.0% 11.4%

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2019 Est. Adult Population (25 Years or Over) - 10,332 81,733 181,9652019 Est. Elementary (Grade Level 0 to 8) - 4.2% 4.8% 5.4%2019 Est. Some High School (Grade Level 9 to 11) - 4.0% 5.4% 5.3%2019 Est. High School Graduate - 23.6% 23.4% 21.6%2019 Est. Some College - 23.4% 21.1% 20.9%2019 Est. Associate Degree Only - 11.3% 9.9% 9.5%2019 Est. Bachelor Degree Only - 22.9% 24.3% 24.5%2019 Est. Graduate Degree - 10.6% 11.0% 12.8%

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NG 2019 Est. Total Housing Units - 7,024 47,492 100,520

2019 Est. Owner-Occupied - 27.6% 50.6% 58.4%2019 Est. Renter-Occupied - 69.7% 47.0% 39.2%2019 Est. Vacant Housing - 2.6% 2.4% 2.4%

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R 2019 Homes Built 2010 or later - 7.9% 6.7% 6.0%2019 Homes Built 2000 to 2009 - 17.8% 14.0% 13.0%2019 Homes Built 1990 to 1999 - 14.5% 12.7% 12.8%2019 Homes Built 1980 to 1989 - 13.8% 14.0% 13.9%2019 Homes Built 1970 to 1979 - 11.4% 13.1% 14.2%2019 Homes Built 1960 to 1969 - 10.3% 14.1% 15.8%2019 Homes Built 1950 to 1959 - 5.6% 10.1% 9.4%2019 Homes Built Before 1949 - 16.1% 13.0% 12.4%

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2019 Home Value $1,000,000 or More - 6.3% 6.8% 7.9%2019 Home Value $500,000 to $999,999 - 34.6% 35.0% 37.3%2019 Home Value $400,000 to $499,999 - 15.7% 17.0% 16.7%2019 Home Value $300,000 to $399,999 - 21.2% 22.0% 20.5%2019 Home Value $200,000 to $299,999 - 13.7% 14.1% 13.0%2019 Home Value $150,000 to $199,999 - 3.7% 3.7% 2.8%2019 Home Value $100,000 to $149,999 - 1.8% 1.6% 1.3%2019 Home Value $50,000 to $99,999 - 1.1% 1.7% 1.4%2019 Home Value $25,000 to $49,999 - 1.6% 1.4% 1.2%2019 Home Value Under $25,000 - 2.1% 1.6% 1.6%2019 Median Home Value $0 T $454,183 $453,372 $492,7192019 Median Rent $0 T $1,268 $1,287 $1,263


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PROPERTYDEMOGRAPHICS


The information contained in this Offering Memorandum is confidential, furnished solely for review by a prospective purchaser of the Malhotra Building located at 811 S 3rd St. Renton, WA 98057 (“the Property”) and is not to be used for any other purpose or made available to any other person without the expressed written consent of McCallen & Sons, Inc., or any affiliate, thereof or of the Property Owner. The material is based in part upon information supplied by Owner, and in part upon information obtained by McCallen & Sons, Inc. from sources, it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all-inclusive but rather only an outline of some terms and information contained therein. No warranty or representation, expressed or implied, is made by Owner, McCallen & Sons, Inc., or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generalization of the preceding, the report shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business or relationship of the Property since the date of preparation of the information. Prospective purchasers should make their projections and conclusions without reliance upon the materials contained herein and conduct their independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.

This Offering Memorandum was prepared by McCallen & Sons, Inc. and has been reviewed by Owner. It contains select information about the Property and does not purport to be all-inclusive or to provide all of the information which a prospective purchaser may desire. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Offering Memorandum, certain documents and other materials are described in summary form. The summaries do not purport to be complete, nor necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review all documents independently.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by McCallen & Sons, Inc. or the Owner. Each prospective purchaser is to rely on its investigation, evaluation, and judgment as to the advisability of purchasing the Property described herein McCallen & Sons, Inc. and the Owner expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property or to terminate discussions with any party at any time with or without notice.

Owner shall have no legal commitment or obligation to any interested party reviewing this Offering Memorandum unless a written agreement for the purchase of the Property has been fully executed and delivered by the Owner and such party and any conditions to Owner’s obligations thereunder have been satisfied or waived and then only to the extent expressly provided for therein, McCallen & Sons, Inc. is not authorized to make any representations or agreements on behalf of Owner. This Offering Memorandum is the property of McCallen & Sons, Inc. and may be used only by parties approved by McCallen & Sons, Inc. and Owner. The Property is privately offered, and by accepting delivery of this Offering Memorandum, the party in possession hereof agrees that this Offering Memorandum and its contents are a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of McCallen & Sons, Inc. and Owner.

The terms and conditions set forth above apply to this Offering Memorandum in its entirety.

Thank you for your consideration.

McCallen & Sons, Inc. 9133 112th Ave. NE, Kirtland, WA 98033 (425) 822.9752 | msibrokers.com | [email protected]

EXCLUSIVELYLISTED BY

Grant Fallon, Broker

mailto:Grant%40mccallenandsons.com?subject=mailto:Grant%40mccallenandsons.com?subject=mailto:Grant%40mcallenandsons.com?subject=http://www.msibrokers.comhttp://www.msibrokers.com tel://14258229752http://http://tel://14258229752tel://142

retail/office building in downtown renton 811 s 3rd st ......retail/office building in downtown...

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