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5655 3rd Ave 17,278 SF Retail Building Ferndale, WA 98248 $3,258,000 ($188.56/SF) 6.75% Cap Rate

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EXECUTIVE SUMMARY

Recently converted and updated CVS located in downtown Ferndale. 6.75% cap with a NNN lease. Lease runs through 2/2032 with tenant holding Six 5 year options to renew.
17,278 sf free standing building on a 1 acre parcel with a drive thru pharmacy.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Building Size

17,278 SF

Building Class

C

Year Built/Renovated

1962/2025

Price

$3,258,000

Price Per SF

$188.56

Cap Rate

6.75%

NOI

$219,915

Tenancy

Single

Building Height

1 Story

Building FAR

0.40

Lot Size

1.00 AC

Zoning

CB

Parking

58 Spaces (3.36 Spaces per 1,000 SF Leased)

Frontage

117’ on 3rd Ave

MAJOR TENANTS

CVS
-
17,278 SF
-
Triple Net
Feb 2032

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE TYPE		LEASE END
CVS	-	17,278 SF	-	Triple Net		Feb 2032

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Walk Score®

Very Walkable (73)

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PROPERTY TAXES

Parcel Number	390229-057506-0000	Improvements Assessment	$2,329,005
Land Assessment	$962,500	Total Assessment	$3,291,505

PROPERTY TAXES

Parcel Number

390229-057506-0000

Land Assessment

$962,500

Improvements Assessment

$2,329,005

Total Assessment

$3,291,505

(831) 464-5039

CONTACT

Erik Barbic
Sherman & Boone Commercial

Listing ID: 38672064
Date on Market: 12/5/2025
Last Updated:
Address: 5655 3rd Ave, Ferndale, WA 98248

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5655 3rd Ave, Ferndale, WA for sale Building Photo- Image 1 of 14 — 20251106_143911

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5655 3rd Ave, Ferndale, WA for sale Building Photo- Image 12 of 14 — 20251106_144907

5655 3rd Ave, Ferndale, WA for sale Building Photo- Image 13 of 14 — 20251106_143935

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