206-826-5787
, Yelm, WA for Sale
Retail - FOR SALE
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Nisqually Plaza
Yelm, WA


HIGHLIGHTS

  • Dominant Yelm Shopping Center | $6+ Million in Tax Savings Year One with Bonus Depreciation
  • Grocery and National Tenant Anchored + Shadow Anchored
  • 94% Occupied with Pending LOI’s for Remaining Suites
  • O’Reilly Auto Parts Expansion | New MultiCare Lease
  • 100% NNN Leases | Brand New Construction Shop Space (8,000 SF) and Recent Property Renovations
  • Diverse, Service and Daily Needs Oriented Tenant Mix | Excellent Retail Location with Visibility to Over 18,000 VPD

OVERVIEW

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Nisqually Plaza, a dominant, grocery anchored shopping center in Yelm, WA. The property is the largest shopping center in Yelm and serves as the focal point of the city's retail and service economy. The Property is currently 94% occupied, having executed five new leases this year, and has pending LOI's for the remaining 3 suites available. The property is anchored by Grocery Outlet, Harbor Freight Tools, O'Reilly Auto Parts, Dollar Tree, and Goodwill and shadow anchored by Safeway, the only other grocery store in Yelm, providing additional traffic flow and visibility. O'Reilly Auto Parts has been a tenant at the property nearly 30 years and recently expanded its square footage at the center by 20%, and MultiCare Health Systems, a regional healthcare provider, just signed a new 10-year lease. The Property is currently occupied with a mix of grocery, medical, automotive, discount, restaurant, general, service and daily needs retailers offering a diversified income stream, with nearly 69% of the GLA of the property leased by tenants at the property for over 5 years (and 45% of the GLA over 10 years). All tenants at the property operate on NNN leases, allowing for reimbursement of maintenance and repair expenses and providing a hedge against rising operating expenses. The property recently had 8,000 SF of new shop space built, providing for brand-new construction space for several tenants, and has recently received numerous property renovations. Located on Yelm Avenue (State Route 507/510), in the main retail corridor of Yelm, the property enjoys excellent visibility and exposure to over 20,000 VPD with multiple points of ingress and egress including a signalized intersection. A professional engineering-based cost segregation study projects over $6 million in first-year bonus depreciation. The population within a 5-mile radius has surged 74% since 2000, with average household incomes exceeding $100,000, and the median home value under $400,000, reflecting robust residential growth, sustained retail demand, and ample discretionary spending.

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

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