PROPERTY TOUR NOTES - Janet Kim, Commercial Realtor
Tuesday, 2-5pm

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PROPERTY 1: Eastside - Main Street, Bellevue
Address: 1847 Main St

Specs:
- 1,400 sq ft
- Previously a smoothie shop (some equipment stays)
- Rent: $7,200/month ($62/sq ft annually)
- NNN (triple net) - add ~$800/month for CAM
- Total: ~$8,000/month

Pros:
- Move-in ready (mostly)
- High foot traffic
- Near tech offices
- Landlord will do 3-month free rent for buildout
- 5-year lease with option to renew

Cons:
- Expensive!
- Small - limits seating to maybe 20
- No outdoor space
- Parking is street only

Janet says: "Hot property, won't last. Other interest."
(She always says that)

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PROPERTY 2: Eastside - Crossroads area
Address: 15600 NE 8th St, Suite 112

Specs:
- 1,800 sq ft
- Former retail, needs full buildout
- Rent: $5,400/month ($36/sq ft annually)
- NNN adds ~$600
- Total: ~$6,000/month

Pros:
- More affordable
- Larger space (25-30 seats)
- Good parking (shared lot)
- Diverse neighborhood
- Near Crossroads mall

Cons:
- Needs significant buildout ($70K+?)
- Not as "hip" as Main St
- Strip mall feel
- Less walk-up traffic

Janet says: "Good value, negotiable on terms."

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PROPERTY 3: University District
Address: 4521 University Way NE

Specs:
- 1,200 sq ft
- Was a bookstore (interesting!)
- Rent: $4,200/month ($42/sq ft annually)
- Modified gross lease
- Total: ~$4,800/month with utilities

Pros:
- Cheapest option
- Character building
- Student foot traffic
- Near campus
- Exposed brick (very on-brand)

Cons:
- Smallest
- Needs work on HVAC
- Bathroom is tiny
- Neighborhood can be... sketchy at night
- Summer dead period

Janet says: "Motivated landlord, 6 months free possible."

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LEASE TERMS OVERVIEW (general):

Standard:
- 5-year initial term
- 2-3% annual increases
- Personal guarantee required (ugh)
- 60-90 days notice to terminate

Negotiable:
- Free rent period (TI allowance)
- Buildout contribution
- Signage rights
- Exclusivity clause (no other coffee in building)
- HVAC/maintenance responsibilities

Janet's advice: "Always ask for more TI money. Worst they say is no."

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TIMELINE:
- Popular spaces go in 2-3 weeks
- Application takes 1 week
- Lease negotiation 2-4 weeks
- If we want Main St, decide within 10 days

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NEXT STEPS:
[ ] Second viewing of top choice?
[ ] Get buildout estimates for each
[ ] Check zoning for each (esp drive-thru potential)
[ ] Run numbers comparing all three

MY GUT RANKING:
1. Crossroads - best value, room to grow
2. Main St - expensive but turnkey
3. U District - cheap but risky

Sarah prefers Main St. "Quality over value."
We need to align.

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JANET'S CONTACT:
janet.kim@commercialre.com
206-555-0147
