1515-1527 Summitview Ave | Yakima, WA 98902
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- LoopNet Team
1515-1527 Summitview Ave
Yakima, WA 98902
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Anchor tenant has been in place since 2004, while the remainder of tenancies provide for a good mix of local and regional businesses.
- Seller recently cured historical vacancies by investing significantly demising large vacancies into much smaller spaces.
- Advertised net operating income is after a 5% reduction for vacancy and credit loss and 2% reduction for capital replacement reserves.
- Average base rents are significantly below market at approximately $11.27/SF, NNN, whereas market rent is closer to $15/SF, NNN.
- Rare opportunity to acquire an investment grade offering where the capitalization rate does not manipulate the price above market.
PROPERTY FACTS
Property Type
Retail
Building Size
17,512 SF
Building Class
C
Year Built
1965
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.47
Lot Size
0.85 AC
Zoning
B-1
Parking
50 Spaces (5.71 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,518,400 | |
| Land Assessment | $653,100 | Total Assessment | $2,171,500 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$653,100
Improvements Assessment
$1,518,400
Total Assessment
$2,171,500
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