$1,105,000
Yakima, WA 98902
MLS# 25-391
Status: Closed
12323 sqft
1 / 18
Property Description
THIS OFFERING is for the opportunity to purchase a net leased multi-tenant building with a good blend of regional and local retailers and professionals at an attractive cap rate and affordable purchase price based upon below market leases signed at an average of just under $9/SF, NNN, providing for some upside while also providing downsize protection. The purchase price equates to approximately $101.51/SF, which demonstrates a rare opportunity to acquire an investment grade property at an equivalent price/SF the building would be worth if it were sold vacant, meaning the capitalization rate does not manipulate the price above market. The sole vacancy, a former emergency veterinarian clinic, is currently on the market and seller will lease that space back for a period of up to 6 months if it has not been filled by closing.
Details
Maps
Documents
Contract Information
List Pr Description: Total List Price
Seller Disclosure: No
Current Price: $1,105,000
MLS Service Begin Date: 2025-02-18
Status: Closed
Sold Price: $1,105,000
Sub Type: Commercial Property
General Property Description
Lot Front Ft Approx: 0
Lot Depth Ft Approx: 0
Total Approx Lot SF: 21344
Acreage M/L: 0.49
List Price Per SqFt: 101.51
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Retail
Year Built: 1978
Total Apx SF: 12323
Location, Tax & Legal
Taxes: 9616
Tax Year: 2025
Spec Tax Designation: None
Parcel Number: 181324-42504
Sellers Title Ins Co: Fidelity
Area (with SubArea): 3A - Btwn S 1st/16th
House Number: 102
Street Dir: S
Street Name: 5th
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Remarks & Misc
Public Remarks: THIS OFFERING is for the opportunity to purchase a net leased multi-tenant building with a good blend of regional and local retailers and professionals at an attractive cap rate and affordable purchase price based upon below market leases signed at an average of just under $9/SF, NNN, providing for some upside while also providing downsize protection.
The purchase price equates to approximately $101.51/SF, which demonstrates a rare opportunity to acquire an investment grade property at an equivalent price/SF the building would be worth if it were sold vacant, meaning the capitalization rate does not manipulate the price above market.
The sole vacancy, a former emergency veterinarian clinic, is currently on the market and seller will lease that space back for a period of up to 6 months if it has not been filled by closing.
Directions: Located at the SW corner of S 5th Ave and W Chestnut Ave.
Status Change Info
Sold Pr Description: Total Sold Price
Financing: CASH
Sold Date: 2025-07-23
Under Contract Date: 2025-06-09
Status Change Date: 2025-07-24
Sold Price: $1,105,000
Domestic Water
Public Water: 1
Air Conditioning
Central Air: 1
Lot Size
.26 - .50 Acres: 1
Heat
Forced Air: 1
Gas: 1
Sewage System
Connected: 1
Zoning
CBD - Cent Bus Dist: 1
Roof
Built-Up: 1
Property Features
Air Conditioning: Central Air
Domestic Water: Public Water
Heat: Forced Air; Gas
Lot Size: .26 - .50 Acres
Roof: Built-Up
Sewage System: Connected
Zoning: CBD - Cent Bus Dist
Legal Description 
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: July - 24 - 2025
Property profiling information contained herein is believed to be accurate, but may contain approximations or estimates where appropriate. The information contained herein is not guaranteed. This information is provided for the sole use and benefit of those authorized to access Yakima Association of Realtors® ('YAR') Multiple Listing Service ('MLS') information, and may not be reproducerepresened to third parties as information produced, warranted, or represented by YAR or MLS to be guaranteed.