Puget Sound NNN Property Search

Absolute NNN leases transfer essentially all financial responsibility to the tenant, including capital expenditures, roof, structure, and parking lot maintenance, leaving the landlord with almost no operational duties. Regular NNN leases still pass through taxes, insurance, and common area maintenance, but may leave the landlord responsible for certain structural elements such as the roof or foundation. We evaluate each lease line by line to clarify your actual expense exposure before you identify a property in Seattle, WA.

We review investment-grade corporate tenants using S&P and Moody's ratings where available, along with audited financials, store-level performance metrics, and comparable closure rates within the same retail category. Essential retailers, dollar stores, quick-service restaurants, convenience stores, pharmacies, and medical groups typically demonstrate the most durable credit profiles. This analysis helps you understand tenant durability whether the property sits within Seattle, WA or elsewhere on the West Coast.

Yes. Triple net lease real estate is real property held for investment, so it qualifies as like-kind replacement property under Internal Revenue Code Section 1031, which now applies exclusively to real property since the 2017 tax law changes removed personal property from eligibility. The exchange defers, rather than eliminates, the capital gains and depreciation recapture tax owed on your relinquished property, and NNN assets are commonly used for that purpose because their long-term leases and corporate guarantees make cash flow easier to underwrite quickly inside the forty-five day window.

Yes. We read every renewal option in the lease, confirm whether rent bumps are fixed or tied to an index, and flag any co-tenancy or exclusive use clauses that could affect renewal likelihood. A lease that looks stable on paper can carry hidden downside if the renewal rent is below market or the tenant has an early termination right tied to a sales threshold.

We track corridors across King, Pierce, and Snohomish counties, including established retail nodes around Federal Way, Lynnwood, Renton, and Auburn, along with newer pad development near growing suburban centers. Availability shifts quickly in this asset class, so the specific slate we present depends on what is actively marketed when your engagement begins.

A Delaware Statutory Trust interest in a diversified NNN portfolio can serve as replacement property and is often used to fill a gap when direct ownership options are limited before the deadline. DST interests are securities, and any discussion of a specific offering should occur with a licensed securities professional, since we do not sell or recommend securities ourselves.