512 W 1st St - Retail FOR SALE


Wapato, WA 98951
$2,541,637 USD
509-480-0733
512 W 1st St, Wapato, WA for Sale
$2,541,637 USD
Retail - FOR SALE
1/6
null | 7.92% Cap Rate

512 W 1st St
Wapato, WA 98951


HIGHLIGHTS

  • Stabilized retail investment anchored by a high-performing grocery store tenant
  • Long-term NNN lease with 10 years of current term remaining and 2.5% annual rent escalations
  • Investment-grade regional grocery operator with a proven operating history at the location
  • Active in-place cap rate of approximately 7.92%
  • Tenant operates seven additional grocery locations across Washington State, demonstrating operational depth and market presence
  • Offering includes the adjoining M-1 tax parcel collectively totaling approximately 116,740 square feet

OVERVIEW

THIS OFFERING is for the opportunity to acquire a stabilized retail investment featuring a thriving grocery store operating under a long-term NNN lease. The current lease term extends for ten years and includes four consecutive five-year renewal options, providing investors with the potential for durable, long-term income stability. The tenant is a well-established regional operator with an investment-grade credit profile and a proven operating history at this location, as well as ownership and operation of seven additional grocery stores throughout Washington State. The investment is currently offered at an attractive 7.9% cap rate and includes an additional adjoining tax parcel which combine for approximately 116,740 square feet. The primary parcel consists of approximately 82,328 square feet and is zoned B-1 (Neighborhood Business District), while the adjacent parcel is just under one acre at approximately 34,412 square feet and is zoned M-1 (Light Industrial), providing additional flexibility for future use, expansion, or ancillary development. Strategically positioned at one of the Lower Yakima Valley’s most prominent and highly trafficked intersections — West 1st Street and U.S. Highway 97 — the property benefits from exceptional visibility, strong daily vehicle counts, and established retail synergy. Surrounding national and regional tenants include O’Reilly Auto Parts, McDonald’s, DaVita Dialysis, and the nearby Wolf Den retail hub, reinforcing the location’s role as a dominant neighborhood and commuter-oriented retail destination that seamlessly ties into the immediate demographic.

FOR SALE DETAILS

PRICE

$2,541,637 USD

PRICE/SF

$113 USD /SF

CAP RATE

7.92%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.68 AC

LAND SF

116,741 SF

ZONING

B2/M1

APN/PARCEL ID

191110-43027, 43042

ASK ABOUT THIS PROPERTY

Nick MayerAlmon Commercial Real EstateMore Info
509-480-0733

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Nick MayerAlmon Commercial Real EstateMore Info
509-480-0733

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