1115 W Lincoln Ave - Office FOR SALE


Yakima, WA 98902
$1,522,113 USD
509-966-3800
1115 W Lincoln Ave, Yakima, WA for Sale
$1,522,113 USD
Office - FOR SALE
1/18
null | 8% Cap Rate

1115 W Lincoln Ave
Yakima, WA 98902


HIGHLIGHTS

  • An emphasis has recently been placed on procuring traditional professional office tenants (rather than retail) and converting leases to triple-net.
  • 64% of the building is leased at fair market rent and triple-net, while 36% of the building is leased at below market rent and semi-gross.
  • Rare opportunity to purchase an investment grade property where the cap rate does not manipulate the price/SF above market.
  • The fair market value of the building if sold vacant is approximately $1.6M and should consistently command rental rates between $11 - $12/SF, NNN.
  • High traffic location on the cusp of downtown.

OVERVIEW

THIS OFFERING is for the opportunity to purchase Lincoln Square, a fully occupied multi-tenant commercial building. Located on the cusp of downtown on a busy commercial arterial, this building fills a niche need of providing affordable, smaller office and retail spaces. Ownership has recently made a concerted effort to focus its leasing efforts on procuring professional office tenants at fair market rent and on triple-net leases, which approximately 64% of the building now benefits from. This is a simple, transparent and affordable offering providing a rare opportunity to acquire a stabilized investment property at a reasonable capitalization rate that does not manipulate the value above fair market.

FOR SALE DETAILS

PRICE

$1,522,113 USD

PRICE/SF

$120 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Square

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

GC

APN/PARCEL ID

181324-21622,181324-21623

ASK ABOUT THIS PROPERTY

Bill Almon JrAlmon Commercial Real EstateMore Info
509-966-3800

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Bill Almon JrAlmon Commercial Real EstateMore Info
509-966-3800

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