- For Sale $1,378,000
- Property Type Office - General Office
- Property Size 12,669 SF
- Units 9
- Lot Size 0.78 Acre
- Property Tenancy Multi-Tenant
- Building Class C
- Year Built 1999
- Date Updated Apr 12, 2024
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Highlights
- Rare investment grade opportunity where the cap rate does not manipulate the sale price to be above market.
- Relatively easy path to upside by re-tenanting or renewing leases closer to fair market rent, converting semi-gross leases to NNN and cosmetic façade work.
- Current leases are delivering the equivalent of approximately $7.48/SF of net rent, which is significantly under market.
- The fair market value of the building, if vacant, might be approximately $135/SF, and should command rental rates between $11 - $12/SF, NNN.
- Lease to Marantha is not being renewed and the space is currently on the market asking $11/SF, NNN.
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Contacts
William C. Almon Jr.
Almon Commercial Real Estate
(509) 966-3800
Location
Getting Around
-
Walk Score ®
Very Walkable (85) -
Transit Score ®
Some Transit (33) -
Bike Score ®
Bikeable (61)
- City Yakima, WA
- Neighborhood Yakima
- Zip Code 98902
- Market Tri Cities
Points of Interest
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Safeway Fuel Station
0.18 miles
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Safeway Fuel Station
0.47 miles
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Conoco
0.69 miles
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Conoco
1.39 miles
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Safeway Fuel Station
1.51 miles
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Arco
2.19 miles
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Fred Meyer Fuel Center
2.24 miles
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Safeway Fuel Station
2.28 miles
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Arco
2.32 miles
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76
2.47 miles
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Lot P
1.06 miles
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Lot A
1.17 miles
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Lot E
1.17 miles
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Lot B
1.24 miles
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Lot F
1.25 miles
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Lot O
1.25 miles
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Lot C - Visitor Parking
1.25 miles
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Lot D - Admin Parking
1.26 miles
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Lot H - Student Parking
1.28 miles
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Lot G - Faculty/Staff
1.28 miles
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Famous Burger And Teriyaki Sandwich
0.25 miles
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Taco Time
0.31 miles
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The Lariat
0.32 miles
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Ron's Tacos and Burgers
0.41 miles
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McDonald's
0.45 miles
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Papa Murphy's
0.46 miles
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Subway
0.47 miles
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Cheese Junkies
0.47 miles
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Major's
0.51 miles
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El Mirador
0.57 miles
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Garfield Elementary School
0.33 miles
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Brookside Academy
0.56 miles
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A. C. Davis High School
0.57 miles
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Saint Pauls Cathedral School
0.59 miles
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Roosevelt Elementary School
0.59 miles
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McKinley Elementary School
0.85 miles
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Saint Josephs-Marquette Middle School
0.87 miles
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Barge-Lincoln Elementary School
0.95 miles
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Franklin Middle School
0.95 miles
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Lincoln School
1.00 miles
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KinderCare
2.66 miles
Contact Listing Broker
William C. Almon Jr.
Almon Commercial Real Estate
(509) 966-3800