$1,007,479
3901 Fairbanks Ave
Yakima, WA 98902
MLS# 14-2497
Status: Closed
6787 sqft
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Property Description
Net lease first class office building in the heart of the 40th Ave Corridor available at an 8 cap. 100% leased to a pair of tenants at below market rates. 4,416SF is leased with a new 3-year term to Summit Leasing (a subsidiary of Continental Bank, who's privatel traded) at approx $14.50/SF, NNN, while the other consists of 2,371SF leased to a 100+ store franchisee of Pizza Hut at approx $13/SF,

Details
Maps
Documents
Contract Information
Current Price: $1,007,479
MLS Service Begin Date: 2014-08-01
Status: Closed
Sold Price: $1,007,479
List Pr Description: Total List Price
Sub Type: Commercial Property
Seller Disclosure: No
General Property Description
Year Built: 1999
Total Apx SF: 6787
Total Approx Lot SF: 38110
List Price Per SqFt: 164.87
Acreage M/L: 0.87
Realtor.COM Type: Commercial
Sale/Lease: For Lease
Main Use: Office
Detail Use: Office Building
Location, Tax & Legal
Area (with SubArea): 2B - Btwn N 16th/40th
House Number: 3901
Street Name: Fairbanks
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Status Change Info
Sold Date: 2014-08-27
Under Contract Date: 2014-08-13
Status Change Date: 2014-08-27
Sold Price: $1,007,479
Financing: CASH
Who Pays Costs
Maint Struct: L
Maint Roof: L
Maint Ext Walls: T
Maint Grounds: T
Maint Interior: T
Main Heat A/C: T
RE Tax: T
Real Prop Ins: T
Utilities: T
Common Area: T
Property Features
Air Conditioning: Central Air
Crops: None
Domestic Water: Public Water
Heat: Forced Air; Gas
Lot Size: .76 - 1.0 Acres
Roof: Tile
Sewage System: Connected
Siding: Stucco
Sq Ft Source: Blue Print
Zoning: B1 - Prof Bus
Supplements
NNN, both having annual escalations, and also to Safeway (who subleases to the Pizza Hut franchisee). Asking price translates to $164.87/SF, which provides for a below market opportunity. Quality aesthetics throughout, including tall ceilings and large wood clad windows taking advantage of the abundance of natural daylight from the northerly views, wood casings and baseboards, high-end wall-coverings, excessive dedicated parking and immaculate landscaping. Exclusion known to listing broker.
IDX
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.

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