Property Overview
Price/Rent PSF $ 795,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 6,000
Date Available 09/13/2019
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Description

Location
This property is ideally located in the center of Sumner's downtown shopping district, with 51 feet of frontage along Main St. and less than a mile from Hwy 167 & SR 410. The property has direct access to one of Sumner's primary public parking lots and is within walking distance to the Sumner Sounder train station.

Sale
This gem has been a part of the downtown community for many years and last served as a popular local restaurant and gathering spot. It is centrally located in the heart of Sumner’s Central Business District and presents a great opportunity for an investor/owner/user to complete renovations and have built-in equity. A picturesque walkway connecting shoppers to a convenient parking lot, runs along the side of the building giving this property a unique advantage in terms of visibility. This property features two separate retail spaces, each with individual entrances along Main Street. Building permits are ready to issue to upgrade the 2nd floor with (4) apartment units adding to this unique investment opportunity.

The City of Sumner has recently adopted the new Town Center Plan, raising the height limit to 4 stories making additional expansion possible. Owner has made numerous upgrades in the pre-development process including adding Phase 3 power, new HVAC systems on the first floor, and sewer/ water upgrades. This project could qualify for the 12 year property tax abatement program, depending upon the number of additional apartment units added.

Location