$2,100,000
Yakima, WA 98908
MLS# 25-1159
Status: Closed
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Property Description
THIS OFFERING is for the opportunity to acquire an absolute net ground lease to Les Schwab with a corporate guarantee and 19+ years remaining being marketed at what is currently the highest offered capitalization rate of any Les Schwab ground lease on the market anywhere in the country. Located in a rapidly expanding submarket area of high demand, the property has significant frontage along a major commercial arterial opposite retailers such as Walmart, Walgreens, Panda Express, Sherwin Williams and others, while a 426-unit apartment complex is within the same development and a golf course adjacent to the same development is undergoing a massive repurposing. The rent is significantly below market in comparison to adjacent ground leases to prominent national QSR's and a large car wash operator currently being negotiated adjacent to the site. Les Schwab is the 4th largest independent tire dealer in the country and has approximately 526 locations across 15 states with sales above $2B, annually, and $500M in annual earnings.
Details
Maps
Documents
Contract Information
List Pr Description: Total List Price
Seller Disclosure: No
Current Price: $2,100,000
MLS Service Begin Date: 2025-05-02
Status: Closed
Sold Price: $2,100,000
Sub Type: Commercial
General Property Description
Lot Front Ft Approx: 0
Lot Depth Ft Approx: 0
Total Approx Lot SF: 64267
Acreage M/L: 1.48
Realtor.COM Type: Land
Location, Tax & Legal
Taxes: 14257
Tax Year: 2025
Spec Tax Designation: None
Parcel Number: 181329-14416
Lock Box Source: Select One
Area (with SubArea): 5A - W 40th/S Yak Ave
House Number: 6905
Street Dir: W
Street Name: Nob Hill
Street Suffix: Blvd
State/Province: WA
Zip Code: 98908
Remarks & Misc
Public Remarks: THIS OFFERING is for the opportunity to acquire an absolute net ground lease to Les Schwab with a corporate guarantee and 19+ years remaining being marketed at what is currently the highest offered capitalization rate of any Les Schwab ground lease on the market anywhere in the country.
Located in a rapidly expanding submarket area of high demand, the property has significant frontage along a major commercial arterial opposite retailers such as Walmart, Walgreens, Panda Express, Sherwin Williams and others, while a 426-unit apartment complex is within the same development and a golf course adjacent to the same development is undergoing a massive repurposing.
The rent is significantly below market in comparison to adjacent ground leases to prominent national QSR's and a large car wash operator currently being negotiated adjacent to the site.
Les Schwab is the 4th largest independent tire dealer in the country and has approximately 526 locations across 15 states with sales above $2B, annually, and $500M in annual earnings.
Directions: 6905 W Nob Hill Blvd
Status Change Info
Financing: CASH
Sold Date: 2025-07-31
Under Contract Date: 2025-06-12
Status Change Date: 2025-07-31
Sold Price: $2,100,000
Crops
None: 1
Domestic Water
Public Water: 1
Irrigation
Irrig Water (Req'd): No
Lot Size
1+ - 5.0 Acres: 1
Restrictions
CC&R: 1
Sewage System
Connected: 1
Type of Land
Commercial Develop: 1
Zoning
C - Commercial: 1
Property Features
Crops: None
Domestic Water: Public Water
Lot Size: 1+ - 5.0 Acres
Restrictions: CC&R
Sewage System: Connected
Type of Land: Commercial Develop
Zoning: C - Commercial
Legal Description 
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: July - 31 - 2025
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.