$1,240,000
Yakima, WA 98902
MLS# 16-1173
Status: Closed
8235 sqft
1 / 25
Property Description
This net leased offering consists of a fully occupied, well-known predominantly retail oriented building that recently underwent a massive remodeling project after it suffered catastrophic damage and loss of tenancies from a fire. The property is now well-positioned for a passive investor after a small group of local investors acquired and methodically repurposed it with the intention of holding for themselves. A careful eye was had towards mitigating for perceived and actual shortcomings both
Details
Maps
Documents
Contract Information
List Pr Description: Total List Price
Seller Disclosure: Yes
Current Price: $1,240,000
MLS Service Begin Date: 2016-05-10
Status: Closed
Sold Price: $1,240,000
Sub Type: Commercial Property
General Property Description
Lot Front Ft Approx: 0
Lot Depth Ft Approx: 0
Total Approx Lot SF: 32187
Acreage M/L: 0.74
List Price Per SqFt: 150.58
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Retail
Year Built: 1949
Total Apx SF: 8235
Location, Tax & Legal
Taxes: 13311.18
Tax Year: 2016
Spec Tax Designation: None
Parcel Number: 181323-23418
Area (with SubArea): 2B - Btwn N 16th/40th
House Number: 3105
Street Name: Summitview
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Remarks & Misc
Public Remarks: This net leased offering consists of a fully occupied, well-known predominantly retail oriented building that recently underwent a massive remodeling project after it suffered catastrophic damage and loss of tenancies from a fire. The property is now well-positioned for a passive investor after a small group of local investors acquired and methodically repurposed it with the intention of holding for themselves. A careful eye was had towards mitigating for perceived and actual shortcomings both
Directions: Located on the north side of Summitview Ave between 31st Ave and 32nd Ave.
Status Change Info
Financing: CONV
Sold Date: 2016-09-15
Under Contract Date: 2016-07-25
Status Change Date: 2016-09-16
Sold Price: $1,240,000
Domestic Water
Public Water: 1
Lot Size
.51 - .75 Acres: 1
Heat
Gas: 1
Sewage System
Connected: 1
Zoning
B2 - Local Business: 1
Roof
Built-Up: 1
Floor Coverings
Concrete: 1
Property Features
Domestic Water: Public Water
Floor Coverings: Concrete
Heat: Gas
Lot Size: .51 - .75 Acres
Roof: Built-Up
Sewage System: Connected
Zoning: B2 - Local Business
Supplements
to the real property and to the security of the leases the likely tenancies the finished product might provide.What's left is an attractive 3-tenant building with above standard finishes and amenities that benefits from efficient, desirable and flexible floorplans, and which is fully leased to established, compatible local tenants. The leases include initial terms of 10-years to the pair of primary tenants occupying 87% of the leased areas, are signed at or below market rents, come with considerable renewal notice period requirements and provide for consistent annual increases.
Flyer 
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: September - 07 - 2024
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.