Silverdale Tractory Supply Center

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INVESTMENT HIGHLIGHTS

#1 TRACTOR SUPPLY IN WASHINGTON STATE AND TOP 2% NATIONALLY (PLACER.AI)

With over 260,000 visits annually, this Tractor Supply location is the top performing store in Washington state and is ranked in the top 2% of all Tractor Supply locations nationally.

100% OCCUPIED TWO-TENANT CENTER ON LONG-TERM LEASES

The Property is anchored by Tractor Supply and Sky Zone (DEFY) featuring lease terms of 5 years and 6 years, respectively.

SIGNIFICANTLY BELOW MARKET ANCHOR RENTS

Tractor Supply is paying $11.85/SF NNN and Sky Zone (DEFY) is paying $12.73/SF NNN with anchor rents achievable in the $17-$19/SF range.

RECENT TENANT IMPROVEMENTS OF OVER $9,000,000

Tractor Supply and Sky Zone (DEFY) have invested a combined $9,000,000+ into the spaces they occupy supporting long term commitment to the location.

HIGH-VISIBILITY LOCATION WITH STRONG TRAFFIC COUNTS

The Property benefits from visibility to over 24,000 vehicles per day, ample parking and multiple points of ingress and egress.

LOCATED IN DOMINANT RETAIL TRADE AREA

The Property is located within the Silverdale retail trade area that boasts in excess of $1.2 Billion of consumer spending annually. The trade area is anchored by the Kitsap Mall and tenants such as Costco, Lowe’s, Trader Joe’s, Safeway and Best Buy.

ST. MICHAEL’S MEDICAL CENTER $500M EXPANSION

Located roughly 0.6 miles from the Property, St. Michael’s Medical Center recently completed a roughly $500M expansion including over 500,000 SF of additional space. St. Michael’s is the leading medical provider on the Kitsap Peninsula and one of the most advanced facilities in the Pacific Northwest. Healthgrades designating the campus as one of America’s 50 Best Hospitals for cardiac surgery along with five-star ratings in multiple service lines, including orthopedics, gynecologic, and pulmonary care (2021).

STRONG, AFFLUENT DEMOGRAPHICS WITH STRONG POPULATION GROWTH

Within a 3-mile radius of the Property, the population grew by over 13% in the last decade and average household incomes are over $98,000.

ATTRACTIVE ASSUMABLE FINANCING AVAILABLE

The Seller’s current loan is assumable and features a balance of roughly $6,300,000, loan maturity of 1/2032, interest rate of 4.50% amortized over 25 years with no pre-payment penalty (contact listing agent for additional details).

BRAND NEW TPO ROOF WITH TRANSFERRABLE 25-YEAR WARRANTY

The Property features a brand new TPO roof installed in January, 2023 featuring a transferrable, 20-year warranty.

HIGH BARRIER TO ENTRY SUBMARKET WITH 2.4% VACANCY RATE

Retail vacancy rates in Silverdale are currently 2.4% with 4.2% rent growth year-over-year. With virtually no new retail development under construction and no new supply delivered in the past 12 months, the development lull creates an incredibly high barrier to entry as demand for space remains high.

INCOME TAX FREE STATE

Washington State is an Income Tax-Free State.