$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
Current Price: $1,240,000
MLS Service Begin Date: 2016-05-10
Status: Closed
Sold Price: $1,240,000
List Pr Description: Total List Price
Sub Type: Commercial Property
Seller Disclosure: Yes
General Property Description
Year Built: 1949
Total Apx SF: 8235
Total Approx Lot SF: 32187
List Price Per SqFt: 150.58
Acreage M/L: 0.74
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Retail
Location, Tax & Legal
Area (with SubArea): 2B - Btwn N 16th/40th
House Number: 3105
Street Name: Summitview
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Status Change Info
Sold Date: 2016-09-15
Under Contract Date: 2016-07-25
Status Change Date: 2016-09-16
Sold Price: $1,240,000
Financing: CONV
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.
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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.