$2,541,637
512 W 1st St
Wapato, WA 98951
MLS# 26-658
22400 sqft


Exterior Ground-Level
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Exterior Ground-Level Drone 1 Aerial w:roads and icons Interior 1 Interior 2 Interior 3

Property Description
THIS OFFERING presents the opportunity to acquire a stabilized retail investment featuring a thriving grocery store operating under a long-term NNN lease. The current lease term extends for ten years and includes four consecutive five-year renewal options, providing investors with durable, long-term income stability. The tenant is a well-established regional operator with an investment-grade credit profile and a proven operating history at this location, as well as ownership and operation of seven additional grocery stores throughout Washington State. The investment is offered at an attractive 7.9% cap rate and includes an additional adjoining tax parcel combining for approximately 116,740 square feet. The primary parcel consists of approximately 82,328 square feet and is zoned B-1 (Neighborhood Business District), while the adjacent parcel is just under one acre at approximately 34,412 square feet and is zoned M-1 (Light Industrial), providing flexibility for future use, expansion, or ancillary development. Strategically positioned at one of the Lower Yakima Valley's most prominent and highly trafficked intersections -- West 1st Street and U.S. Highway 97 -- the property benefits from exceptional visibility, strong daily vehicle counts, and established retail synergy. Surrounding national and regional tenants include O'Reilly Auto Parts, McDonald's, DaVita Dialysis, and the nearby Wolf Den retail hub, reinforcing the location's role as a dominant neighborhood and commuter-oriented retail destination. With its combination of long-term contractual income, strong tenant credit, high-exposure location, and additional land component offering future upside, this asset represents a compelling opportunity for investors seeking secure cash flow with long-term growth potential and rental escalations.

Details
Maps
Documents
Contract Information
List Pr Description: Total List Price
Seller Disclosure: No
Current Price: $2,541,637
MLS Service Begin Date: 2026-03-13
Status: Active
List Price: $2,541,637
Sub Type: Commercial Property
General Property Description
Lot Front Ft Approx: 0
Lot Depth Ft Approx: 0
Total Approx Lot SF: 116740
Acreage M/L: 2.68
List Price Per SqFt: 113.47
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Retail
Detail Use: Free Standing Bldg
Year Built: 1976
Total Apx SF: 22400
Location, Tax & Legal
Taxes: 8602.98
Tax Year: 2026
Spec Tax Designation: None
Parcel Number: 191110-43027, 43042
Sellers Title Ins Co: Valley Title
Area (with SubArea): 13L - Wapato
House Number: 512
Street Dir: W
Street Name: 1st
Street Suffix: St
State/Province: WA
Zip Code: 98951
Remarks & Misc
Public Remarks: THIS OFFERING presents the opportunity to acquire a stabilized retail investment featuring a thriving grocery store operating under a long-term NNN lease. The current lease term extends for ten years and includes four consecutive five-year renewal options, providing investors with durable, long-term income stability. The tenant is a well-established regional operator with an investment-grade credit profile and a proven operating history at this location, as well as ownership and operation of seven additional grocery stores throughout Washington State. The investment is offered at an attractive 7.9% cap rate and includes an additional adjoining tax parcel combining for approximately 116,740 square feet. The primary parcel consists of approximately 82,328 square feet and is zoned B-1 (Neighborhood Business District), while the adjacent parcel is just under one acre at approximately 34,412 square feet and is zoned M-1 (Light Industrial), providing flexibility for future use, expansion, or ancillary development. Strategically positioned at one of the Lower Yakima Valley's most prominent and highly trafficked intersections -- West 1st Street and U.S. Highway 97 -- the property benefits from exceptional visibility, strong daily vehicle counts, and established retail synergy. Surrounding national and regional tenants include O'Reilly Auto Parts, McDonald's, DaVita Dialysis, and the nearby Wolf Den retail hub, reinforcing the location's role as a dominant neighborhood and commuter-oriented retail destination. With its combination of long-term contractual income, strong tenant credit, high-exposure location, and additional land component offering future upside, this asset represents a compelling opportunity for investors seeking secure cash flow with long-term growth potential and rental escalations.
Directions: South on Hwy. 97 East on W 1st St. Property on left.
Property Information
Ann 3-Net Rate By SF: 1.75
Domestic Water
Public Water: 1
Who Pays Costs
Maint Struct: L
Maint Roof: L
Maint Ext Walls: L
Maint Grounds: T
Maint Interior: T
Main Heat A/C: T
RE Tax: T
Real Prop Ins: T
Utilities: T
Common Area: T
Air Conditioning
Central Air: 1
Lot Size
1+ - 5.0 Acres: 1
Foundation
Concrete: 1
Heat
Forced Air: 1
Sewage System
Connected: 1
Construction Style
Block: 1
Zoning
M1 - Light Indus: 1
B1 - Prof Bus: 1
Roof
Built-Up: 1
Floor Coverings
Concrete: 1
Tile: 1
Siding
Brick: 1
Possession
Close Of Escrow: 1
Status Change Info
Status Change Date: 2026-03-13
Property Features
Air Conditioning: Central Air
Construction Style: Block
Domestic Water: Public Water
Floor Coverings: Concrete; Tile
Foundation: Concrete
Heat: Forced Air
Lot Size: 1+ - 5.0 Acres
Roof: Built-Up
Sewage System: Connected
Siding: Brick
Possession: Close Of Escrow
Zoning: M1 - Light Indus; B1 - Prof Bus

IDX
Listing Office: Almon Commercial-Residential Real Estate

Last Updated: March - 13 - 2026

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.