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5110 Tieton Dr
Yakima, WA 98908
Glenwood Square · Retail Property For Sale
Investment Highlights
- Glenwood Square offers over 20 years of successful operations in the heart of Yakima, demonstrating stability and long-term tenant demand
- Existing vacancy provides an opportunity to increase cash flow and improve overall returns as remaining space is leased at market rates
- Originally an apple warehouse, the building features exposed beams and hardwood floors, creating a distinctive setting
- The property is anchored by well-established, locally recognized tenants that generate consistent daily traffic & contribute to a vibrant environment
- Ownership has completed recent upgrades to the property, a roof replacement in 2016, interior fire sprinklers and suppression
- Second-floor theater/ media space offers upside through events, entertainment programming, or alternative uses
Executive Summary
Kidder Mathews is pleased to present the opportunity to acquire Glenwood Square, an irreplaceable and historic multi-tenant neighborhood shopping center in Yakima’s affluent West Valley submarket.
Glenwood Square is anchored by 3 of Yakima’s most popular and long-time established restaurants, offering stable and differentiated rental income at an attractive 8.72% current CAP Rate, generating an immediate 11% cash on cash return with traditional financing.
Located within the affluent West Valley submarket— Yakima’s highest-income submarket -The property benefits from strong surrounding demographics, with a county population exceeding 250,000 residents and approximately 85,000 households.
The building itself offers a distinctive architectural character, featuring exposed rustic beams and heavy hardwood flooring that create an inviting and authentic environment well-suited for a variety of retail and service-oriented uses.
Glenwood Square is anchored by 3 of Yakima’s most popular and long-time established restaurants, offering stable and differentiated rental income at an attractive 8.72% current CAP Rate, generating an immediate 11% cash on cash return with traditional financing.
Located within the affluent West Valley submarket— Yakima’s highest-income submarket -The property benefits from strong surrounding demographics, with a county population exceeding 250,000 residents and approximately 85,000 households.
The building itself offers a distinctive architectural character, featuring exposed rustic beams and heavy hardwood flooring that create an inviting and authentic environment well-suited for a variety of retail and service-oriented uses.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Building Size
52,275 SF
Building Class
B
Year Built
1945
Price
$4,000,000
Price Per SF
$76.52
Cap Rate
8.72%
NOI
$348,800
Percent Leased
87%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.52
Lot Size
2.32 AC
Zoning
M1
Parking
200 Spaces (3.83 Spaces per 1,000 SF Leased)
Frontage
185’ on Tieton Dr
Amenities
- Bus Line
- Fenced Lot
- Restaurant
- Tenant Controlled HVAC
- Air Conditioning
Property Taxes
| Parcel Number | 181328-12403 | Improvements Assessment | $3,361,700 |
| Land Assessment | $627,100 | Total Assessment | $3,988,800 |
Property Taxes
Parcel Number
181328-12403
Land Assessment
$627,100
Improvements Assessment
$3,361,700
Total Assessment
$3,988,800
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