FOR SALE: TARGET - $4.87M - $50/SF - LOW RENT - NNN - WENATCHEE, WA
The only full-size Target within 150 miles, offered at $50/SF on an absolute NNN lease. Target exercised a new 5-year option extension through September 2031 with three additional options remaining. In-place rent of $2.43/SF/YR is significantly below market with upside at expiration. The property anchors Valley North Center, the #1 shopping center in a 50-mile radius and a top 10% performer nationwide with 3.5M annual visits.
Highlights:
• Absolute NNN
• Fortune 50 credit, rated A/A2/A
• Only full-size Target within 150 miles
• New 5-year lease extension through September 2031
• 3 remaining options with 10% rent bumps each — cap rate grows to 6.64% by 2046
• Below-market rent at $2.43/SF
• Fee simple land ownership, 5.71 acres
• Anchors the #1 shopping center in a 50-mile radius