24 S 1st St - Freestanding FOR SALE


Yakima, WA 98901- Downtown Yakima
$695,000 USD
509-966-3800
24 S 1st St, Yakima, WA for Sale
$695,000 USD
Freestanding - FOR SALE
1/15
null | 8.25% Cap Rate

24 S 1st St
Yakima, WA 98901
Downtown Yakima


HIGHLIGHTS

  • Asking price based upon a 9 cap of the scheduled NOI from the Buddy’s Home Furnishing’s lease plus $58,000 attributable to the vacant upper floors.
  • Tenant is paying $5,900/month with lease expiring 12/31/26 with one 5-year renewal option. Landlord pays property taxes and insurance.
  • Upper floors provide redevelopment potential (perhaps best converted to multi-family) at a steeply discounted price.
  • Located at a controlled intersection in the heart of downtown with traffic counts in excess of 27,700 vehicles per day passing by.
  • Significant pylon sign.

OVERVIEW

THIS OFFERING is for the opportunity to purchase a prominent commercial building with the ground floor leased to a regional home furnishing retailer, Buddy’s Home Furnishings, and unfinished upper floors vacant. Buddy’s and their predecessor have occupied the ground floor since approximately 2000 while the vacant upper floors provide for redevelopment potential or discounted storage areas. The building was originally occupied by its entirety by the Bon Marche. Located in the heart of downtown Yakima at a controlled intersection with more than 27,700 vehicles passing by, the property has significant frontage along S 1st St and is only 1-block south of Yakima Ave.

FOR SALE DETAILS

PRICE

$695,000 USD

PRICE/SF

$37 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

CBD

APN/PARCEL ID

191319-23423,191319-24324

ASK ABOUT THIS PROPERTY

Bill AlmonAlmon Commercial Real EstateMore Info
509-966-3800

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Bill AlmonAlmon Commercial Real EstateMore Info
509-966-3800

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