$570,000
Yakima, WA 98901
MLS# 19-1827
Status: Closed
12022 sqft
1 / 19
Property Description
THIS OFFERING is for the opportunity to purchase an affordable single-tenant net leased industrial property with a new 5-year lease intentionally signed at a below market rent commencing 8/1/19. The existing tenant, All Metal Solutions, a local custom metal fabrication shop, has occupied the building since 5/26/16. The lease was intentionally structured to create a simple, transparent sale opportunity that limits risk to an investor while providing both for a likely simple, quick sale offering at an offered price being at or below fair market value. The advertised NOI calculation includes both a 5% vacancy factor and 2% capital replacement reserve subtracted from the gross annual income. Asking price equates to an 8 cap.
Details
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Documents
Contract Information
Current Price: $570,000
MLS Service Begin Date: 2019-07-24
Status: Closed
Sold Price: $570,000
List Pr Description: Total List Price
Sub Type: Commercial Property
Seller Disclosure: No
General Property Description
Year Built: 1970
Total Apx SF: 12022
Total Approx Lot SF: 27443
List Price Per SqFt: 51.11
Acreage M/L: 0.63
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Industrial
Detail Use: Manufacturing
Location, Tax & Legal
Area (with SubArea): 1B - SE Yakima
House Number: 616
Street Dir: S
Street Name: 2nd
Street Suffix: St
State/Province: WA
Zip Code: 98901
Status Change Info
Sold Date: 2019-12-27
Under Contract Date: 2019-10-29
Status Change Date: 2019-12-27
Sold Price: $570,000
Sold Pr Description: Total Sold Price
Financing: OTHER
Property Features
Construction Style: Block
Domestic Water: Public Water
Heat: Gas
Lot Size: .51 - .75 Acres
Roof: Built-Up
Sewage System: Connected
Sq Ft Source: Blue Print
Zoning: C - Commercial
Supplements
Of the approximately 12,022SF of total building area, approximately 1,500SF is office space on 2 levels. There's also a detached utility building of approximately 905SF deemed to hold no value for purposes of either the lease or sale offering. Includes three parcels inclusive of secured yard space.
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.