1102 Springwater Ave - Freestanding FOR SALE


Wenatchee, WA 98801
$4,870,000 USD
206-518-9567
1102 Springwater Ave, Wenatchee, WA for Sale
$4,870,000 USD
Freestanding - FOR SALE
1/6
null | 4.85% Cap Rate

1102 Springwater Ave
Wenatchee, WA 98801


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
  • Anchors the #1 shopping center in a 50-mile radius
  • Below-market rent at $2.43/SF

OVERVIEW

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

FOR SALE DETAILS

PRICE

$4,870,000 USD

PRICE/SF

$50 USD /SF

CAP RATE

4.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

316

LAND DETAILS

LAND ACRES

5.71 AC

LAND SF

248,728 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Billy SleethNewmarkMore Info
206-518-9567

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Billy SleethNewmarkMore Info
206-518-9567

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.